Celestica Inc. (NYSE:CLS) Holdings Cut by NewGen Asset Management Ltd

NewGen Asset Management Ltd trimmed its position in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 38.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 400,000 shares of the technology company's stock after selling 246,292 shares during the quarter. Celestica accounts for 6.0% of NewGen Asset Management Ltd's portfolio, making the stock its 6th largest position. NewGen Asset Management Ltd owned approximately 0.34% of Celestica worth $11,712,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Celestica by 50.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,094,994 shares of the technology company's stock valued at $149,153,000 after buying an additional 2,054,918 shares during the period. Vanguard Group Inc. increased its holdings in Celestica by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,704,369 shares of the technology company's stock worth $90,831,000 after purchasing an additional 47,619 shares in the last quarter. WCM Investment Management LLC acquired a new stake in shares of Celestica in the 4th quarter valued at about $67,832,000. Shannon River Fund Management LLC bought a new stake in shares of Celestica in the third quarter valued at about $41,565,000. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in shares of Celestica by 21.0% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,412,581 shares of the technology company's stock valued at $34,692,000 after purchasing an additional 244,884 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CLS. Stifel Nicolaus lifted their target price on Celestica from $36.00 to $48.00 and gave the company a "hold" rating in a research report on Friday, April 26th. Canaccord Genuity Group raised their target price on shares of Celestica from $48.00 to $53.00 and gave the company a "buy" rating in a research report on Friday, April 26th. TD Securities boosted their price target on shares of Celestica from $33.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, January 31st. CIBC restated a "neutral" rating and set a $49.00 price objective (up from $41.00) on shares of Celestica in a research note on Friday, April 26th. Finally, StockNews.com downgraded Celestica from a "buy" rating to a "hold" rating in a research report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $42.25.

Celestica Stock Performance

Celestica stock traded up $0.86 during midday trading on Friday, reaching $44.86. 2,483,102 shares of the company's stock were exchanged, compared to its average volume of 2,499,134. The stock's 50-day simple moving average is $45.03 and its 200 day simple moving average is $35.09. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 16.74 and a beta of 2.25. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.78 and a current ratio of 1.42. Celestica Inc. has a 52 week low of $10.63 and a 52 week high of $51.12.

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.