Hennessy Advisors Inc. Buys 14,000 Shares of Celestica Inc. (NYSE:CLS)

Hennessy Advisors Inc. grew its position in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 6.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 220,200 shares of the technology company’s stock after purchasing an additional 14,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in Celestica were worth $20,324,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Optimum Investment Advisors boosted its holdings in 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 last quarter. Financial Management Professionals Inc. bought a new stake in Celestica during the third quarter worth $30,000. UMB Bank n.a. purchased a new stake in shares of Celestica during the 3rd quarter valued at $34,000. Private Trust Co. NA boosted its holdings in shares of Celestica by 480.0% in the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock worth $44,000 after buying an additional 720 shares during the last quarter. Finally, Global Trust Asset Management LLC bought a new stake in Celestica in the third quarter worth about $51,000. Institutional investors own 67.38% of the company’s stock.

Celestica Price Performance

Shares of NYSE:CLS opened at $110.64 on Friday. Celestica Inc. has a 12 month low of $26.62 and a 12 month high of $115.52. 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 stock has a market cap of $12.87 billion, a P/E ratio of 35.12 and a beta of 2.25. The company has a 50 day moving average of $92.60 and a 200 day moving average of $68.15.

Celestica (NYSE:CLS) (TSE:CLS) last released 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. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The business’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 earnings per share. As a group, sell-side analysts forecast that Celestica Inc. will post 3.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CLS. Barclays initiated coverage on shares of Celestica in a research note on Tuesday, November 5th. They set an “overweight” rating and a $91.00 price target for the company. TD Securities upped their price target on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Royal Bank of Canada lifted their price objective on Celestica from $75.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Canaccord Genuity Group boosted their price objective on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, TD Cowen increased their target price 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. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $81.45.

Insider Buying and Selling at Celestica

In other Celestica news, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the completion of the sale, the director now directly owns 1,784 shares in the company, valued at $176,134.32. The trade was a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

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.