Zurcher Kantonalbank Zurich Cantonalbank Reduces Position in Celestica, Inc. (NYSE:CLS)

Key Points

• Zurcher Kantonalbank has reduced its position in Celestica, Inc. by 14.3%, now holding 25,823 shares valued at approximately $2,035,000.
• Several institutional investors, including Rothschild Investment LLC and Bessemer Group Inc., have recently modified their stakes in Celestica, reflecting a changing investment landscape for the company.
• Brokerages have updated their ratings for Celestica, with targets ranging from $120.00 to $220.00, indicating a generally positive outlook despite some recent price adjustments.

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 14.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,823 shares of the technology company's stock after selling 4,309 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Celestica were worth $2,035,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rothschild Investment LLC purchased a new stake in shares of Celestica in the first quarter worth about $26,000. ORG Partners LLC purchased a new stake in Celestica in the first quarter valued at approximately $29,000. Center for Financial Planning Inc. purchased a new stake in Celestica in the first quarter valued at approximately $30,000. Bessemer Group Inc. purchased a new stake in Celestica in the fourth quarter valued at approximately $42,000. Finally, Farther Finance Advisors LLC raised its stake in Celestica by 1,516.7% in the first quarter. Farther Finance Advisors LLC now owns 679 shares of the technology company's stock valued at $54,000 after purchasing an additional 637 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Celestica Stock Down 2.5%

Shares of NYSE CLS opened at $194.84 on Friday. Celestica, Inc. has a one year low of $40.25 and a one year high of $214.47. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.44 and a quick ratio of 0.85. The firm's 50 day simple moving average is $147.75 and its two-hundred day simple moving average is $116.70. The stock has a market capitalization of $22.40 billion, a P/E ratio of 42.17 and a beta of 1.80.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CLS. Argus lowered their target price on shares of Celestica from $150.00 to $120.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $130.00 target price (up from $118.00) on shares of Celestica in a research note on Thursday, May 22nd. CIBC lowered their target price on shares of Celestica from $150.00 to $120.00 and set an "outperformer" rating on the stock in a research note on Tuesday, April 15th. BNP Paribas raised shares of Celestica to a "strong-buy" rating in a research note on Wednesday, June 11th. Finally, Barclays raised their target price on shares of Celestica from $146.00 to $220.00 and gave the company an "overweight" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $168.92.

Celestica Profile

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.

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