Metis Global Partners LLC Increases Stake in Celestica, Inc. $CLS

Metis Global Partners LLC boosted its position in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 44.2% during the second quarter, HoldingsChannel reports. The fund owned 4,944 shares of the technology company’s stock after buying an additional 1,516 shares during the quarter. Metis Global Partners LLC’s holdings in Celestica were worth $772,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC increased its stake in shares of Celestica by 102.5% in the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock worth $26,000 after purchasing an additional 83 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in Celestica by 33.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 350 shares of the technology company’s stock worth $55,000 after buying an additional 87 shares during the period. Freedom Investment Management Inc. grew its stake in Celestica by 1.5% in the 1st quarter. Freedom Investment Management Inc. now owns 6,360 shares of the technology company’s stock valued at $501,000 after buying an additional 96 shares in the last quarter. Wolff Wiese Magana LLC raised its holdings in Celestica by 45.6% during the 2nd quarter. Wolff Wiese Magana LLC now owns 364 shares of the technology company’s stock valued at $57,000 after acquiring an additional 114 shares during the period. Finally, First National Bank of Hutchinson lifted its position in shares of Celestica by 2.5% during the first quarter. First National Bank of Hutchinson now owns 4,914 shares of the technology company’s stock worth $387,000 after acquiring an additional 120 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

Insider Buying and Selling at Celestica

In related news, Director Laurette T. Koellner bought 6,000 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was bought at an average cost of $341.67 per share, for a total transaction of $2,050,020.00. Following the completion of the transaction, the director owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.52% of the company’s stock.

Celestica Stock Down 3.7%

Shares of NYSE CLS opened at $331.73 on Wednesday. Celestica, Inc. has a 12 month low of $58.05 and a 12 month high of $363.40. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $38.15 billion, a price-to-earnings ratio of 53.85 and a beta of 1.85. The business has a 50-day moving average of $272.44 and a 200-day moving average of $192.96.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.13. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the firm posted $1.04 earnings per share. Celestica’s quarterly revenue was up 27.8% on a year-over-year basis. Sell-side analysts expect that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CLS shares. Canaccord Genuity Group lifted their price target on Celestica from $126.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Wall Street Zen raised Celestica from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Barclays upped their price target on Celestica from $220.00 to $357.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. CIBC raised their price objective on shares of Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of Celestica from $295.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Celestica has an average rating of “Moderate Buy” and an average price target of $336.00.

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.