DAVENPORT & Co LLC acquired a new stake in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,703 shares of the technology company's stock, valued at approximately $342,000.
Other hedge funds also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC purchased a new stake in shares of Celestica during the fourth quarter worth about $385,000. Quantbot Technologies LP increased its position in shares of Celestica by 120.9% during the third quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company's stock worth $5,299,000 after acquiring an additional 56,732 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Celestica during the third quarter worth about $61,210,000. Sigma Planning Corp bought a new stake in Celestica in the third quarter valued at about $420,000. Finally, Advisors Asset Management Inc. increased its holdings in Celestica by 61.9% in the third quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company's stock valued at $1,682,000 after buying an additional 12,584 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Celestica
In other news, insider Alok K. Agrawal sold 6,826 shares of the business's stock in a transaction that occurred on 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 approximately $1,235,278.08. The trade was a 42.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert Mionis sold 52,588 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $6,707,073.52. Following the transaction, the chief executive officer now owns 531,417 shares of the company's stock, valued at approximately $67,776,924.18. This represents a 9.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 959,381 shares of company stock worth $119,142,019. Company insiders own 1.00% of the company's stock.
Analyst Upgrades and Downgrades
CLS has been the subject of several research analyst reports. CIBC raised Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price objective for the company in a report on Friday, January 31st. BMO Capital Markets boosted their price objective on Celestica from $64.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Stifel Nicolaus initiated coverage on Celestica in a report on Tuesday, February 4th. They issued a "buy" rating and a $140.00 price objective for the company. UBS Group initiated coverage on Celestica in a report on Friday, November 22nd. They issued a "neutral" rating and a $95.00 price objective for the company. Finally, Royal Bank of Canada boosted their price objective on Celestica from $115.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $103.27.
Check Out Our Latest Research Report on Celestica
Celestica Stock Performance
CLS stock traded up $2.92 during midday trading on Wednesday, reaching $129.50. The company had a trading volume of 3,323,535 shares, compared to its average volume of 5,048,103. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The stock has a 50 day moving average price of $105.64 and a 200 day moving average price of $76.47. The firm has a market capitalization of $15.07 billion, a PE ratio of 34.63 and a beta of 2.27. Celestica Inc. has a fifty-two week low of $36.00 and a fifty-two week high of $144.27.
Celestica Profile
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Free Report)
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.
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