Point72 Asset Management L.P. Boosts Position in Celestica Inc. (NYSE:CLS)

Point72 Asset Management L.P. raised its stake in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 38.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,084,722 shares of the technology company's stock after purchasing an additional 301,563 shares during the period. Point72 Asset Management L.P. owned about 0.91% of Celestica worth $55,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in CLS. Optimum Investment Advisors grew its stake in shares of Celestica by 66.7% during the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company's stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in shares of Celestica during the 3rd quarter worth about $30,000. UMB Bank n.a. purchased a new position in shares of Celestica in the 3rd quarter valued at about $34,000. Wolff Wiese Magana LLC raised its position in shares of Celestica by 32.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company's stock worth $40,000 after acquiring an additional 170 shares in the last quarter. Finally, Private Trust Co. NA lifted its stake in Celestica by 480.0% during the third quarter. Private Trust Co. NA now owns 870 shares of the technology company's stock worth $44,000 after purchasing an additional 720 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

Celestica Stock Performance

Shares of NYSE:CLS traded up $2.55 during trading on Thursday, reaching $92.08. The company had a trading volume of 1,547,187 shares, compared to its average volume of 2,290,522. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The stock's fifty day moving average price is $71.73 and its 200 day moving average price is $59.56. Celestica Inc. has a fifty-two week low of $25.83 and a fifty-two week high of $93.15. The firm has a market capitalization of $10.71 billion, a price-to-earnings ratio of 29.23 and a beta of 2.27.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.93 by $0.11. The business had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.41 billion. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The company's quarterly revenue was up 24.8% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. As a group, equities research analysts predict that Celestica Inc. will post 3.44 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. BMO Capital Markets increased their price target on shares of Celestica from $64.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Royal Bank of Canada increased their target price on shares of Celestica from $65.00 to $75.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Stifel Nicolaus boosted their price target on shares of Celestica from $58.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. TD Securities raised their price objective on Celestica from $68.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Finally, Barclays began coverage on Celestica in a report on Tuesday, November 5th. They issued an "overweight" rating and a $91.00 target price for the company. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $71.45.

About Celestica

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.