Price T Rowe Associates Inc. MD Increases Stake in Celestica Inc. (NYSE:CLS)

Price T Rowe Associates Inc. MD lifted its position in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 65.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 269,378 shares of the technology company's stock after purchasing an additional 106,931 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.23% of Celestica worth $24,864,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Peregrine Capital Management LLC bought a new stake in Celestica during the 4th quarter valued at $30,000. Pinpoint Asset Management Ltd raised its holdings in shares of Celestica by 109.6% in the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock worth $32,000 after acquiring an additional 182 shares during the last quarter. Bessemer Group Inc. bought a new position in Celestica in the 4th quarter valued at about $42,000. R Squared Ltd acquired a new position in Celestica during the 4th quarter valued at about $51,000. Finally, IFP Advisors Inc increased its holdings in Celestica by 122.7% during the 4th quarter. IFP Advisors Inc now owns 668 shares of the technology company's stock worth $62,000 after purchasing an additional 368 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CLS shares. JPMorgan Chase & Co. upped their price target on Celestica from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Stifel Nicolaus boosted their price target on shares of Celestica from $140.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Barclays decreased their price objective on shares of Celestica from $157.00 to $126.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. TD Securities lifted their target price on shares of Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Finally, Argus reduced their target price on Celestica from $150.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Celestica presently has a consensus rating of "Moderate Buy" and an average target price of $105.42.

Insider Activity

In related news, insider Alok K. Agrawal sold 6,826 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total transaction of $914,137.92. Following the completion of the transaction, the insider now directly owns 9,224 shares in the company, valued at $1,235,278.08. The trade was a 42.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Todd C. Cooper sold 65,000 shares of the firm's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $129.78, for a total value of $8,435,700.00. Following the completion of the sale, the president now directly owns 110,426 shares in the company, valued at approximately $14,331,086.28. The trade was a 37.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 853,591 shares of company stock worth $106,369,812 over the last ninety days. Company insiders own 1.00% of the company's stock.

Celestica Stock Performance

Shares of NYSE CLS traded up $4.82 during midday trading on Friday, hitting $94.03. The company's stock had a trading volume of 3,327,629 shares, compared to its average volume of 3,157,256. The firm has a market capitalization of $10.90 billion, a price-to-earnings ratio of 25.14 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. The stock has a fifty day moving average price of $86.23 and a 200 day moving average price of $93.47. Celestica Inc. has a one year low of $40.25 and a one year high of $144.27.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted 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 firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.56 billion. Celestica had a return on equity of 23.34% and a net margin of 4.61%. The business's quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.83 earnings per share. On average, research analysts forecast that Celestica Inc. will post 4.35 EPS for the current fiscal year.

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.