Forge First Asset Management Inc. Invests $921,000 in Celestica, Inc. $CLS

Forge First Asset Management Inc. bought a new position in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,906 shares of the technology company’s stock, valued at approximately $921,000.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Celestica by 0.8% during the first quarter. Vanguard Group Inc. now owns 4,514,605 shares of the technology company’s stock worth $356,135,000 after acquiring an additional 35,690 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of Celestica by 362.8% in the 1st quarter. Voya Investment Management LLC now owns 1,854,085 shares of the technology company’s stock worth $146,122,000 after purchasing an additional 1,453,473 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Celestica by 17.6% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,733,686 shares of the technology company’s stock worth $271,045,000 after purchasing an additional 259,504 shares in the last quarter. Royal Bank of Canada lifted 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 during the last quarter. Finally, Alkeon Capital Management LLC bought a new position in Celestica during the 1st quarter valued at about $96,936,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Price Performance

Celestica stock opened at $300.53 on Wednesday. The business’s 50-day simple moving average is $280.05 and its 200 day simple moving average is $200.73. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.37. The stock has a market cap of $34.56 billion, a price-to-earnings ratio of 48.79 and a beta of 1.85. Celestica, Inc. has a 12-month low of $58.05 and a 12-month high of $363.40.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.13. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.01 billion. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The company’s revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.04 EPS. As a group, research analysts anticipate that Celestica, Inc. will post 4.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CLS has been the subject of a number of research analyst reports. BNP Paribas reiterated an “outperform” rating and issued a $300.00 target price on shares of Celestica in a research note on Thursday, September 25th. New Street Research set a $400.00 target price on Celestica in a report on Wednesday, October 29th. Royal Bank Of Canada raised their target price on Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. TD Securities upped their price target on shares of Celestica from $238.00 to $305.00 and gave the stock a “hold” rating in a research report on Wednesday, October 29th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $385.00 price objective (up previously from $230.00) on shares of Celestica 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 issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $336.13.

Insider Transactions at Celestica

In other Celestica news, Director Laurette T. Koellner acquired 6,000 shares of Celestica stock in a transaction on Thursday, October 30th. The shares were purchased at an average cost of $341.67 per share, with a total value of $2,050,020.00. Following the completion of the purchase, the director owned 6,000 shares in the company, valued at $2,050,020. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.52% of the company’s stock.

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.