Bridgewater Associates LP Acquires 76,690 Shares of Celestica Inc. (NYSE:CLS)

Bridgewater Associates LP increased its stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 85.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 166,754 shares of the technology company’s stock after purchasing an additional 76,690 shares during the quarter. Bridgewater Associates LP’s holdings in Celestica were worth $8,524,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CLS. Wolff Wiese Magana LLC increased its stake in Celestica by 32.1% in the second 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 in the last quarter. Optimum Investment Advisors grew its stake in shares of Celestica by 66.7% in 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 period. Truist Financial Corp increased its position in Celestica by 2.0% in the 2nd quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock valued at $631,000 after buying an additional 214 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Celestica by 26.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock worth $67,000 after buying an additional 275 shares during the period. Finally, Creative Planning grew its stake in Celestica by 4.7% in the second quarter. Creative Planning now owns 7,526 shares of the technology company’s stock valued at $431,000 after acquiring an additional 336 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Price Performance

Shares of NYSE CLS opened at $83.16 on Friday. The firm has a market cap of $9.68 billion, a price-to-earnings ratio of 26.40 and a beta of 2.24. The stock has a fifty day simple moving average of $67.26 and a two-hundred day simple moving average of $58.06. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. Celestica Inc. has a 1-year low of $25.83 and a 1-year high of $93.15.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results 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 return on equity of 21.58% and a net margin of 4.08%. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the prior year, the company earned $0.65 EPS. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. Analysts anticipate that Celestica Inc. will post 3.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CLS shares. Barclays assumed coverage on Celestica in a research report on Tuesday, November 5th. They set an “overweight” rating and a $91.00 target price on the stock. Stifel Nicolaus raised their price objective on shares of Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Royal Bank of Canada boosted 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. TD Cowen upped their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, UBS Group assumed coverage on Celestica in a research note on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target for the company. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $71.45.

Celestica Company 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.