Janney Montgomery Scott LLC Has $1.88 Million Stake in Celestica Inc. (NYSE:CLS)

Janney Montgomery Scott LLC lowered its stake in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 63.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,698 shares of the technology company's stock after selling 63,297 shares during the quarter. Janney Montgomery Scott LLC's holdings in Celestica were worth $1,876,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Optimum Investment Advisors boosted its position in Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company's stock valued at $26,000 after purchasing an additional 200 shares during the period. Financial Management Professionals Inc. acquired a new position in Celestica during the 3rd quarter valued at approximately $30,000. UMB Bank n.a. acquired a new position in Celestica during the 3rd quarter valued at approximately $34,000. Wolff Wiese Magana LLC boosted its position in Celestica by 32.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company's stock valued at $40,000 after purchasing an additional 170 shares during the period. Finally, Naples Money Management LLC boosted its position in Celestica by 90.0% during 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 during the period. Institutional investors and hedge funds own 67.38% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Stifel Nicolaus boosted their price target on Celestica from $58.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. BMO Capital Markets upped their target price on Celestica from $64.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Royal Bank of Canada increased their target price on shares of Celestica from $65.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. StockNews.com lowered Celestica from a "buy" rating to a "hold" rating in a report on Friday, August 2nd. Finally, CIBC upped their target price on Celestica from $58.00 to $60.00 and gave the stock a "neutral" rating in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $69.10.

Celestica Stock Performance

CLS stock traded down $1.56 during midday trading on Thursday, hitting $80.49. The stock had a trading volume of 2,330,296 shares, compared to its average volume of 2,284,016. The firm has a market capitalization of $9.55 billion, a price-to-earnings ratio of 25.55 and a beta of 2.24. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The stock has a 50-day simple moving average of $59.12 and a 200 day simple moving average of $55.29. Celestica Inc. has a 52 week low of $25.83 and a 52 week high of $87.99.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted its earnings results 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 business had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The firm's revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 earnings per share. As a group, equities research analysts anticipate that Celestica Inc. will post 3.44 earnings per share 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.