Celestica Inc. (NYSE:CLS) Shares Sold by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. reduced its stake in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 72.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 245,843 shares of the technology company's stock after selling 650,453 shares during the period. Letko Brosseau & Associates Inc. owned about 0.21% of Celestica worth $22,677,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. LMR Partners LLP raised its holdings in Celestica by 113.6% in the 4th quarter. LMR Partners LLP now owns 213,556 shares of the technology company's stock worth $19,709,000 after purchasing an additional 113,556 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new position in shares of Celestica during the fourth quarter valued at about $673,000. Janus Henderson Group PLC lifted its holdings in Celestica by 259.8% in the fourth quarter. Janus Henderson Group PLC now owns 134,790 shares of the technology company's stock worth $12,412,000 after buying an additional 97,323 shares during the period. Hudson Bay Capital Management LP grew its holdings in shares of Celestica by 150.0% during the 4th quarter. Hudson Bay Capital Management LP now owns 45,000 shares of the technology company's stock worth $4,154,000 after acquiring an additional 27,000 shares during the period. Finally, Gotham Asset Management LLC purchased a new position in shares of Celestica in the 4th quarter valued at approximately $697,000. Institutional investors own 67.38% of the company's stock.

Celestica Stock Down 1.7%

Shares of CLS traded down $1.96 during midday trading on Thursday, reaching $111.49. 2,887,593 shares of the stock were exchanged, compared to its average volume of 3,210,935. The company has a market capitalization of $12.89 billion, a P/E ratio of 29.81 and a beta of 1.65. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. Celestica Inc. has a 52 week low of $40.25 and a 52 week high of $144.27. The company's 50 day moving average is $87.39 and its two-hundred day moving average is $95.44.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CLS. Barclays dropped their target price on shares of Celestica from $157.00 to $126.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Argus cut their price objective on shares of Celestica from $150.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Royal Bank of Canada restated an "outperform" rating and issued a $120.00 price objective on shares of Celestica in a report on Monday, April 28th. JPMorgan Chase & Co. lifted their target price on shares of Celestica from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Finally, TD Securities upped their price target on Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Celestica presently has an average rating of "Moderate Buy" and a consensus target price of $105.42.

Celestica Company 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.