FORA Capital LLC Acquires New Position in Celestica Inc. (NYSE:CLS)

FORA Capital LLC acquired a new stake in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 22,518 shares of the technology company's stock, valued at approximately $2,078,000.

A number of other large investors have also made changes to their positions in the stock. Cornerstone Wealth Management LLC acquired a new position in Celestica in the fourth quarter worth about $385,000. Raymond James Financial Inc. acquired a new position in Celestica in the fourth quarter worth about $47,685,000. Schechter Investment Advisors LLC acquired a new position in Celestica in the fourth quarter worth about $294,000. American Century Companies Inc. raised its position in Celestica by 16.4% in the fourth quarter. American Century Companies Inc. now owns 219,062 shares of the technology company's stock worth $20,217,000 after purchasing an additional 30,851 shares in the last quarter. Finally, Fruth Investment Management acquired a new position in Celestica in the fourth quarter worth about $286,000. Institutional investors and hedge funds own 67.38% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CLS shares. CIBC dropped their price target on shares of Celestica from $150.00 to $120.00 and set an "outperformer" rating for the company in a research report on Tuesday, April 15th. Cibc World Mkts raised shares of Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Argus decreased their price objective 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. TD Securities upped their price objective on shares of Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Finally, Barclays decreased their price objective on shares of Celestica from $157.00 to $126.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $105.42.

Celestica Price Performance

Shares of CLS traded down $3.30 during mid-day trading on Friday, hitting $93.03. 2,692,143 shares of the company traded hands, compared to its average volume of 3,175,062. Celestica Inc. has a one year low of $40.25 and a one year high of $144.27. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average of $85.52 and a 200 day moving average of $94.72. The stock has a market capitalization of $10.79 billion, a price-to-earnings ratio of 24.87 and a beta of 1.65.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last released its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. Celestica had a net margin of 4.61% and a return on equity of 23.34%. The business had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.56 billion. During the same period in the prior year, the firm earned $0.83 earnings per share. Celestica's revenue was up 19.9% compared to the same quarter last year. As a group, equities analysts expect that Celestica Inc. will post 4.35 earnings per share for the current fiscal year.

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.