Celestica Inc. (NYSE:CLS) Position Lessened by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd lowered its holdings in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 9.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,806 shares of the technology company’s stock after selling 4,983 shares during the quarter. Ausbil Investment Management Ltd’s holdings in Celestica were worth $2,444,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in CLS. Wolff Wiese Magana LLC raised its position in shares of Celestica by 32.1% during the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock valued at $40,000 after buying an additional 170 shares during the last quarter. Optimum Investment Advisors grew its stake in shares of Celestica by 66.7% during the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after purchasing an additional 200 shares during the period. Truist Financial Corp lifted its holdings in Celestica by 2.0% during the second quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock worth $631,000 after acquiring an additional 214 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings 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 purchasing an additional 275 shares in the last quarter. Finally, Creative Planning lifted its position in Celestica by 4.7% during the 2nd quarter. Creative Planning now owns 7,526 shares of the technology company’s stock worth $431,000 after buying an additional 336 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Trading Up 17.0 %

CLS traded up $9.77 during trading hours on Thursday, reaching $67.24. The company’s stock had a trading volume of 4,237,661 shares, compared to its average volume of 2,247,319. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.86. The stock has a market cap of $7.99 billion, a PE ratio of 25.30 and a beta of 2.28. The business’s 50-day moving average is $51.89 and its 200-day moving average is $52.02. Celestica Inc. has a fifty-two week low of $20.87 and a fifty-two week high of $68.44.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.41 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 earnings per share. As a group, equities research analysts predict that Celestica Inc. will post 3.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CLS shares. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. BMO Capital Markets boosted their target price on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday. Canaccord Genuity Group lifted their target price on shares of Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. TD Securities raised their price objective on shares of Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Royal Bank of Canada boosted their price target on shares of Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.50.

Celestica 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.