Kendall Capital Management Decreases Holdings in Celestica Inc. (NYSE:CLS)

Kendall Capital Management lessened its stake in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 12.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,970 shares of the technology company's stock after selling 5,570 shares during the period. Celestica comprises approximately 1.0% of Kendall Capital Management's investment portfolio, making the stock its 26th largest holding. Kendall Capital Management's holdings in Celestica were worth $3,505,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Peregrine Capital Management LLC acquired a new position in shares of Celestica during the fourth quarter valued at approximately $30,000. Private Trust Co. NA lifted its holdings in Celestica by 480.0% in the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company's stock valued at $44,000 after purchasing an additional 720 shares in the last quarter. R Squared Ltd acquired a new stake in Celestica during the 4th quarter worth $51,000. IFP Advisors Inc boosted its stake 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 during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Celestica by 43.6% during the fourth quarter. UMB Bank n.a. now owns 949 shares of the technology company's stock worth $88,000 after buying an additional 288 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CLS shares. JPMorgan Chase & Co. initiated coverage on shares of Celestica in a research report on Friday, February 21st. They set an "overweight" rating and a $166.00 price target on the stock. Canaccord Genuity Group upped their price target on Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Stifel Nicolaus lifted their price objective on Celestica from $140.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. CIBC raised Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price objective on the stock in a research note on Friday, January 31st. Finally, Barclays raised their target price on Celestica from $139.00 to $157.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Celestica currently has a consensus rating of "Moderate Buy" and a consensus target price of $110.83.

Insiders Place Their Bets

In related news, insider Alok K. Agrawal sold 6,826 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total value of $914,137.92. Following the sale, the insider now owns 9,224 shares of the company's stock, valued at $1,235,278.08. This trade represents a 42.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Todd C. Cooper sold 65,000 shares of Celestica stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the completion of the transaction, the president now owns 110,426 shares of the company's stock, valued at $14,331,086.28. This represents a 37.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 959,381 shares of company stock worth $119,142,019 in the last ninety days. 1.00% of the stock is owned by corporate insiders.

Celestica Stock Down 7.2 %

Shares of CLS traded down $6.35 during mid-day trading on Monday, hitting $81.19. 6,323,672 shares of the company's stock were exchanged, compared to its average volume of 5,123,853. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The company has a market cap of $9.45 billion, a price-to-earnings ratio of 21.71 and a beta of 2.21. The stock's 50-day moving average is $111.23 and its 200-day moving average is $83.93. Celestica Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $144.27.

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.