Raymond James & Associates Decreases Stock Holdings in Celestica Inc. (NYSE:CLS)

Raymond James & Associates cut its holdings in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 35.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,073 shares of the technology company's stock after selling 38,857 shares during the quarter. Raymond James & Associates owned 0.06% of Celestica worth $3,582,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Blue Trust Inc. boosted its holdings in shares of Celestica by 97.3% during the 3rd quarter. Blue Trust Inc. now owns 14,433 shares of the technology company's stock valued at $738,000 after acquiring an additional 7,119 shares during the last quarter. Stratos Wealth Advisors LLC boosted its holdings in Celestica by 20.0% in the third quarter. Stratos Wealth Advisors LLC now owns 4,200 shares of the technology company's stock worth $215,000 after purchasing an additional 700 shares during the last quarter. Harbour Capital Advisors LLC bought a new stake in Celestica in the 3rd quarter worth approximately $275,000. Optimum Investment Advisors raised its stake 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 buying an additional 200 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of Celestica by 36.1% during the 3rd quarter. Creative Planning now owns 10,240 shares of the technology company's stock valued at $523,000 after buying an additional 2,714 shares during the period. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Celestica Price Performance

Celestica stock traded up $2.10 during mid-day trading on Monday, hitting $72.32. The stock had a trading volume of 2,399,917 shares, compared to its average volume of 2,270,478. Celestica Inc. has a one year low of $24.37 and a one year high of $73.18. 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 firm has a market capitalization of $8.58 billion, a P/E ratio of 22.29 and a beta of 2.24. The firm's 50 day moving average is $54.04 and its 200 day moving average is $53.22.

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 analysts' consensus estimates of $0.93 by $0.11. The firm 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 business's quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.65 earnings per share. On average, sell-side analysts forecast that Celestica Inc. will post 3.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. TD Cowen upped their price objective on Celestica from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. TD Securities raised their price objective on shares of Celestica from $68.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. StockNews.com cut shares of Celestica from a "buy" rating to a "hold" rating in a report on Friday, August 2nd. Stifel Nicolaus lifted their price target on shares of Celestica from $58.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Finally, BMO Capital Markets upped their price objective on Celestica from $64.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $66.67.

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.