Kensington Investment Counsel LLC Acquires 591 Shares of Celestica Inc. (NYSE:CLS)

Kensington Investment Counsel LLC boosted its stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 12.0% during the third quarter, Holdings Channel reports. The fund owned 5,514 shares of the technology company’s stock after acquiring an additional 591 shares during the period. Kensington Investment Counsel LLC’s holdings in Celestica were worth $282,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cetera Advisors LLC acquired a new stake in shares of Celestica in the first quarter valued at approximately $367,000. SG Americas Securities LLC increased its stake in shares of Celestica by 276.6% in the 2nd quarter. SG Americas Securities LLC now owns 18,935 shares of the technology company’s stock valued at $1,086,000 after buying an additional 13,907 shares during the period. Roman Butler Fullerton & Co. bought a new stake in shares of Celestica during the second quarter worth $1,399,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Celestica during the second quarter valued at $218,000. Finally, Rockingstone Advisors LLC bought a new position in Celestica in the second quarter valued at about $2,442,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Stock Up 3.0 %

Celestica stock opened at $94.86 on Friday. The company has a 50 day moving average of $72.61 and a 200-day moving average of $59.90. 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 Inc. has a twelve month low of $26.00 and a twelve month high of $96.00. The stock has a market capitalization of $11.04 billion, a PE ratio of 30.11 and a beta of 2.27.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results 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. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the business earned $0.65 EPS. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, equities research analysts anticipate that Celestica Inc. will post 3.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. BMO Capital Markets upped their target price on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Stifel Nicolaus upped their target price on shares of Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. TD Cowen raised their price target on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Barclays initiated coverage on Celestica in a report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price objective for the company. Finally, UBS Group initiated coverage on Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 target price on the stock. Three investment 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, Celestica has a consensus rating of “Moderate Buy” and an average price target 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.