PNC Financial Services Group Inc. Acquires 4,645 Shares of Celestica, Inc. $CLS

PNC Financial Services Group Inc. boosted its holdings in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 91.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,727 shares of the technology company’s stock after purchasing an additional 4,645 shares during the period. PNC Financial Services Group Inc.’s holdings in Celestica were worth $1,518,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Jones Financial Companies Lllp lifted its holdings in Celestica by 1,103.8% during the 1st quarter. Jones Financial Companies Lllp now owns 24,486 shares of the technology company’s stock valued at $1,930,000 after purchasing an additional 22,452 shares during the last quarter. Y Intercept Hong Kong Ltd raised its stake in shares of Celestica by 406.3% in the second quarter. Y Intercept Hong Kong Ltd now owns 52,606 shares of the technology company’s stock valued at $8,212,000 after acquiring an additional 42,215 shares during the last quarter. Fortis Capital Advisors LLC acquired a new position in shares of Celestica in the 2nd quarter worth approximately $343,000. Think Investments LP bought a new stake in Celestica during the 1st quarter worth approximately $14,939,000. Finally, Royal Bank of Canada increased its holdings in Celestica by 1.5% during the 1st quarter. Royal Bank of Canada now owns 1,280,563 shares of the technology company’s stock valued at $100,922,000 after purchasing an additional 19,391 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CLS. Stifel Nicolaus reaffirmed a “buy” rating and issued a $385.00 price target (up from $230.00) on shares of Celestica in a report on Wednesday, October 29th. Royal Bank Of Canada upped their target price on shares of Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. TD Securities increased their price target on shares of Celestica from $238.00 to $305.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th. UBS Group boosted their price objective on shares of Celestica from $208.00 to $350.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Finally, Canaccord Genuity Group upped their price objective on Celestica from $126.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Celestica currently has a consensus rating of “Moderate Buy” and an average price target of $336.13.

Celestica Trading Up 4.4%

Shares of NYSE CLS opened at $312.98 on Thursday. Celestica, Inc. has a fifty-two week low of $58.05 and a fifty-two week high of $363.40. The firm has a market capitalization of $35.99 billion, a P/E ratio of 50.81 and a beta of 1.85. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.86. The company’s 50 day simple moving average is $281.26 and its 200 day simple moving average is $201.51.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.45 by $0.13. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS. On average, analysts predict that Celestica, Inc. will post 4.35 EPS for the current year.

Insiders Place Their Bets

In related news, Director Laurette T. Koellner bought 6,000 shares of Celestica stock in a transaction on Thursday, October 30th. The shares were purchased at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the completion of the acquisition, the director owned 6,000 shares in the company, valued at approximately $2,050,020. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.52% 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.