Entropy Technologies LP Invests $2.23 Million in Celestica Inc. (NYSE:CLS)

Entropy Technologies LP bought a new stake in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 43,704 shares of the technology company's stock, valued at approximately $2,234,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in Celestica by 2,494.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company's stock valued at $391,147,000 after purchasing an additional 8,368,293 shares during the last quarter. Driehaus Capital Management LLC grew its stake in Celestica by 19,876.9% in the second quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company's stock valued at $66,770,000 after acquiring an additional 1,158,823 shares during the period. Hennessy Advisors Inc. acquired a new position in Celestica in the second quarter valued at about $10,491,000. Twin Tree Management LP bought a new stake in shares of Celestica in the first quarter worth about $7,504,000. Finally, Shellback Capital LP raised its position in shares of Celestica by 136.5% during the second quarter. Shellback Capital LP now owns 260,153 shares of the technology company's stock worth $14,915,000 after purchasing an additional 150,153 shares during the period. Institutional investors own 67.38% of the company's stock.

Analyst Upgrades and Downgrades

CLS has been the subject of a number of research reports. TD Cowen increased their target price 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 upped their target price on shares of Celestica from $64.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. CIBC lifted their price target on Celestica from $58.00 to $60.00 and gave the company a "neutral" rating in a research note on Friday, July 26th. Canaccord Genuity Group boosted their price target on Celestica from $53.00 to $70.00 and gave the company a "buy" rating in a report on Friday, July 26th. Finally, Royal Bank of Canada increased their price objective on Celestica from $65.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Celestica has an average rating of "Moderate Buy" and a consensus target price of $69.10.

Celestica Stock Down 1.6 %

Shares of NYSE:CLS traded down $1.34 during midday trading on Wednesday, hitting $82.72. The stock had a trading volume of 1,227,119 shares, compared to its average volume of 2,279,294. The company has a market cap of $9.81 billion, a P/E ratio of 26.65 and a beta of 2.24. Celestica Inc. has a 12 month low of $25.83 and a 12 month high of $87.99. The business's 50-day simple moving average is $58.42 and its 200-day simple moving average is $55.10. 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 released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the business earned $0.65 EPS. Celestica's revenue for the quarter was up 24.8% compared to the same quarter last year. On average, sell-side analysts forecast that Celestica Inc. will post 3.44 earnings per share for the current fiscal year.

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.