Cibc World Market Inc. Decreases Stock Position in Celestica Inc. (NYSE:CLS)

Cibc World Market Inc. lowered its stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 12.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,679,044 shares of the technology company’s stock after selling 240,656 shares during the quarter. Cibc World Market Inc. owned about 1.44% of Celestica worth $154,897,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Optimum Investment Advisors raised its position in shares of Celestica by 66.7% during 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 in the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of Celestica during the 3rd quarter valued at about $30,000. UMB Bank n.a. purchased a new stake in shares of Celestica during the 3rd quarter valued at about $34,000. Private Trust Co. NA grew its holdings in Celestica by 480.0% during the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after purchasing an additional 720 shares during the last quarter. Finally, Global Trust Asset Management LLC bought a new position in Celestica during the 3rd quarter valued at about $51,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Analyst Ratings Changes

CLS has been the topic of several analyst reports. Royal Bank of Canada upped their price target on shares of Celestica from $75.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. BMO Capital Markets upped their price target on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Stifel Nicolaus upped their price target on shares of Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. 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 research note on Thursday, October 24th. Finally, Canaccord Genuity Group upped their target price on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Celestica currently has an average rating of “Moderate Buy” and a consensus target price of $89.18.

Insider Activity at Celestica

In related news, Director Michael Wilson sold 25,000 shares of the 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 owns 1,784 shares of the company’s stock, valued at $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

Celestica Price Performance

NYSE CLS opened at $114.11 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The firm’s 50 day moving average price is $97.80 and its 200-day moving average price is $71.75. Celestica Inc. has a 52-week low of $32.80 and a 52-week high of $131.23. The company has a market cap of $13.28 billion, a PE ratio of 36.22 and a beta of 2.25.

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.