Entropy Technologies LP Acquires New Shares in Celestica Inc. (NYSE:CLS)

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its position in shares of Celestica by 2,494.7% in the 1st 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 buying an additional 8,368,293 shares in the last quarter. Driehaus Capital Management LLC raised its position in shares of Celestica by 19,876.9% during the second quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock worth $66,770,000 after purchasing an additional 1,158,823 shares during the period. Hennessy Advisors Inc. bought a new position in shares of Celestica during the 2nd quarter valued at about $10,491,000. Twin Tree Management LP acquired a new position in shares of Celestica in the 1st quarter valued at approximately $7,504,000. Finally, Shellback Capital LP increased its stake in Celestica by 136.5% during the 2nd 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 in the last quarter. Institutional investors own 67.38% of the company’s stock.

Celestica Stock Performance

Shares of CLS stock opened at $84.09 on Wednesday. The company has a fifty day moving average price of $58.42 and a two-hundred day moving average price of $55.10. Celestica Inc. has a one year low of $25.21 and a one year high of $87.99. The stock has a market cap of $9.97 billion, a P/E ratio of 26.70 and a beta of 2.24. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. Celestica’s revenue was up 24.8% on a year-over-year basis. During the same period last year, the business posted $0.65 EPS. As a group, equities analysts predict that Celestica Inc. will post 3.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CLS. TD Securities increased their price objective on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Royal Bank of Canada boosted their price target on Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. TD Cowen boosted their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Stifel Nicolaus raised 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. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.10.

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.