Celestica Inc. (NYSE:CLS) Holdings Cut by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 13.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 429,105 shares of the technology company's stock after selling 64,277 shares during the quarter. The Manufacturers Life Insurance Company owned 0.36% of Celestica worth $21,952,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CLS. Janus Henderson Group PLC acquired a new position in Celestica during the first quarter valued at approximately $1,040,000. Cetera Advisors LLC acquired a new position in shares of Celestica during the 1st quarter valued at $367,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Celestica during the 1st quarter valued at $110,000. Harbor Capital Advisors Inc. purchased a new stake in Celestica during the 2nd quarter worth $2,308,000. Finally, Naples Money Management LLC increased its holdings in Celestica by 90.0% in the 2nd quarter. Naples Money Management LLC now owns 950 shares of the technology company's stock valued at $55,000 after purchasing an additional 450 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CLS has been the topic of a number of recent research reports. TD Securities boosted their price objective on Celestica from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. BMO Capital Markets boosted their price target on Celestica from $64.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Stifel Nicolaus increased their price objective 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. Barclays assumed coverage on shares of Celestica in a research report on Tuesday, November 5th. They set an "overweight" rating and a $91.00 target price on the stock. Finally, TD Cowen raised their price target on shares of Celestica from $68.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Celestica currently has an average rating of "Moderate Buy" and a consensus price target of $71.45.

Celestica Stock Up 2.5 %

Shares of Celestica stock traded up $2.08 during trading on Friday, reaching $85.24. The company had a trading volume of 1,006,790 shares, compared to its average volume of 2,531,811. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica Inc. has a fifty-two week low of $25.83 and a fifty-two week high of $93.15. The firm's fifty day moving average is $68.66 and its 200-day moving average is $58.62. The company has a market cap of $9.92 billion, a price-to-earnings ratio of 27.06 and a beta of 2.24.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. The firm had revenue of $2.50 billion for 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%. Celestica's revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 earnings per share. On average, analysts anticipate that Celestica Inc. will post 3.44 EPS for the current year.

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.