Bay Rivers Group Lowers Holdings in Celestica, Inc. $CLS

Bay Rivers Group decreased its position in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 20.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,608 shares of the technology company’s stock after selling 4,028 shares during the quarter. Celestica makes up 1.6% of Bay Rivers Group’s holdings, making the stock its 25th largest holding. Bay Rivers Group’s holdings in Celestica were worth $3,845,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Voya Investment Management LLC increased its position in Celestica by 362.8% during the 1st quarter. Voya Investment Management LLC now owns 1,854,085 shares of the technology company’s stock valued at $146,122,000 after purchasing an additional 1,453,473 shares during the period. Franklin Resources Inc. boosted its stake in shares of Celestica by 25.8% during the second quarter. Franklin Resources Inc. now owns 1,833,205 shares of the technology company’s stock valued at $286,184,000 after purchasing an additional 375,910 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Celestica by 17.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,733,686 shares of the technology company’s stock valued at $271,045,000 after purchasing an additional 259,504 shares in the last quarter. Norges Bank purchased a new position in Celestica during the second quarter valued at approximately $236,069,000. Finally, Royal Bank of Canada raised its stake in Celestica by 1.5% in the first quarter. Royal Bank of Canada now owns 1,280,563 shares of the technology company’s stock worth $100,922,000 after buying an additional 19,391 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Laurette T. Koellner purchased 6,000 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were acquired at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the purchase, the director owned 6,000 shares in the company, valued at $2,050,020. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on CLS shares. Citigroup raised Celestica from a “neutral” rating to a “buy” rating and increased their target price for the company from $212.00 to $375.00 in a research report on Monday, November 10th. BNP Paribas reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Celestica in a research report on Thursday, September 25th. TD Cowen reiterated a “hold” rating and issued a $238.00 target price on shares of Celestica in a research note on Friday, October 3rd. Barclays boosted their target price on shares of Celestica from $357.00 to $359.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Finally, New Street Research set a $400.00 price target 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 data from MarketBeat, Celestica currently has an average rating of “Moderate Buy” and a consensus price target of $336.13.

Celestica Stock Down 4.7%

CLS stock opened at $275.26 on Thursday. The stock has a market capitalization of $31.65 billion, a PE ratio of 44.69 and a beta of 1.83. Celestica, Inc. has a 52 week low of $58.05 and a 52 week high of $363.40. The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $309.51 and a 200 day moving average of $230.67.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter last year, the company posted $1.04 earnings per share. The business’s quarterly revenue was up 27.8% on a year-over-year basis. Sell-side analysts forecast that Celestica, Inc. will post 4.35 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.