Envestnet Asset Management Inc. Boosts Stake in Celestica, Inc. $CLS

Envestnet Asset Management Inc. lifted its holdings in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 19.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,622 shares of the technology company’s stock after buying an additional 28,539 shares during the period. Envestnet Asset Management Inc. owned approximately 0.15% of Celestica worth $26,937,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CLS. DAVENPORT & Co LLC raised its stake in shares of Celestica by 43.5% in the 1st quarter. DAVENPORT & Co LLC now owns 5,314 shares of the technology company’s stock valued at $419,000 after acquiring an additional 1,611 shares during the period. Private Trust Co. NA grew its holdings in shares of Celestica by 14.1% in the first quarter. Private Trust Co. NA now owns 993 shares of the technology company’s stock valued at $78,000 after purchasing an additional 123 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of Celestica by 2.6% in the first quarter. D.A. Davidson & CO. now owns 14,625 shares of the technology company’s stock valued at $1,153,000 after purchasing an additional 375 shares in the last quarter. World Investment Advisors acquired a new position in shares of Celestica in the first quarter valued at approximately $249,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Celestica by 22.3% in the first quarter. Bank of New York Mellon Corp now owns 121,467 shares of the technology company’s stock valued at $9,573,000 after purchasing an additional 22,120 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Celestica Price Performance

Shares of CLS stock opened at $349.69 on Tuesday. The company has a market capitalization of $40.23 billion, a PE ratio of 56.77 and a beta of 1.88. The firm has a fifty day simple moving average of $255.95 and a 200-day simple moving average of $182.32. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. Celestica, Inc. has a twelve month low of $58.05 and a twelve month high of $360.99.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Monday, October 27th. The technology company reported $1.58 EPS 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 firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the firm posted $1.04 EPS. The firm’s revenue was up 27.8% compared to the same quarter last year. Equities research analysts anticipate that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Activity

In other Celestica news, Director Laurette T. Koellner purchased 6,000 shares of Celestica stock in a transaction dated Thursday, October 30th. The shares were bought at an average cost of $341.67 per share, for a total transaction of $2,050,020.00. Following the transaction, the director owned 6,000 shares in the company, valued at $2,050,020. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

CLS has been the subject of several analyst reports. BNP Paribas reiterated an “outperform” rating and set a $300.00 price target on shares of Celestica in a report on Thursday, September 25th. Royal Bank Of Canada upped their target price on shares of Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Barclays increased their price target on shares of Celestica from $220.00 to $357.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. TD Cowen restated a “hold” rating and issued a $238.00 target price on shares of Celestica in a research note on Friday, October 3rd. Finally, UBS Group increased their price target on shares of Celestica from $208.00 to $350.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Celestica currently has a consensus rating of “Moderate Buy” and an average target price of $325.13.

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.