HighTower Advisors LLC Sells 24,018 Shares of Celestica Inc. (NYSE:CLS)

HighTower Advisors LLC reduced its stake in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 66.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 12,236 shares of the technology company's stock after selling 24,018 shares during the period. HighTower Advisors LLC's holdings in Celestica were worth $622,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Celestica in the 2nd quarter worth about $218,000. Raymond James & Associates lifted its stake in shares of Celestica by 79.7% during the 2nd quarter. Raymond James & Associates now owns 108,930 shares of the technology company's stock valued at $6,245,000 after buying an additional 48,323 shares in the last quarter. Atria Wealth Solutions Inc. grew its stake in Celestica by 12.2% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 15,589 shares of the technology company's stock valued at $893,000 after buying an additional 1,689 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Celestica during the 2nd quarter worth about $5,567,000. Finally, Whittier Trust Co. bought a new stake in Celestica during the 2nd quarter worth approximately $416,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CLS shares. Stifel Nicolaus raised their price target on Celestica from $70.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Barclays initiated coverage on Celestica in a research note on Tuesday, November 5th. They set an "overweight" rating and a $91.00 price target for the company. TD Securities lifted their price target on shares of Celestica from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Royal Bank of Canada upped their price objective on shares of Celestica from $65.00 to $75.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Finally, TD Cowen increased their target price 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 equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Celestica has an average rating of "Moderate Buy" and an average target price of $77.82.

Celestica Stock Up 2.6 %

Shares of NYSE CLS traded up $2.40 on Friday, reaching $95.45. 2,057,957 shares of the company's stock traded hands, compared to its average volume of 2,281,476. The business's 50 day simple moving average is $79.71 and its two-hundred day simple moving average is $62.14. Celestica Inc. has a 12 month low of $26.62 and a 12 month high of $100.51. The company has a market cap of $11.11 billion, a price-to-earnings ratio of 30.30 and a beta of 2.27. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

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