Raymond James Financial Services Advisors Inc. Trims Holdings in Celestica Inc. (NYSE:CLS)

Raymond James Financial Services Advisors Inc. reduced its stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 53.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,554 shares of the technology company’s stock after selling 26,022 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Celestica were worth $660,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Raymond James & Associates raised its position in Celestica by 41.8% during the fourth quarter. Raymond James & Associates now owns 47,757 shares of the technology company’s stock valued at $1,398,000 after acquiring an additional 14,072 shares in the last quarter. CoreCap Advisors LLC purchased a new stake in shares of Celestica in the fourth quarter valued at approximately $345,000. Vanguard Group Inc. increased its position in shares of Celestica by 1.3% in the third quarter. Vanguard Group Inc. now owns 3,704,369 shares of the technology company’s stock valued at $90,831,000 after buying an additional 47,619 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Celestica in the third quarter valued at approximately $361,000. Finally, American Century Companies Inc. increased its position in shares of Celestica by 82.4% in the third quarter. American Century Companies Inc. now owns 374,693 shares of the technology company’s stock valued at $9,170,000 after buying an additional 169,277 shares in the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CLS. TD Securities boosted their price objective on Celestica from $33.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group lifted their price target on Celestica from $32.50 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Royal Bank of Canada lifted their price target on Celestica from $33.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. BMO Capital Markets lifted their price target on Celestica from $32.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Finally, StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.88.

Celestica Stock Performance

NYSE CLS opened at $44.62 on Thursday. The stock’s fifty day moving average is $43.94 and its two-hundred day moving average is $33.55. The firm has a market capitalization of $5.32 billion, a P/E ratio of 21.98 and a beta of 2.22. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.75 and a current ratio of 1.40. Celestica Inc. has a fifty-two week low of $10.50 and a fifty-two week high of $51.12.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.08 billion. Celestica had a return on equity of 17.09% and a net margin of 3.07%. On average, research analysts anticipate that Celestica Inc. will post 2.59 earnings per share for the current year.

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.