Barometer Capital Management Inc. Makes New Investment in Celestica, Inc. $CLS

Barometer Capital Management Inc. purchased a new stake in Celestica, Inc. (NYSE:CLS) (TSE:CLS) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 23,963 shares of the technology company’s stock, valued at approximately $5,904,000. Celestica makes up approximately 1.5% of Barometer Capital Management Inc.’s investment portfolio, making the stock its 22nd largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thompson Davis & CO. Inc. purchased a new position in Celestica in the second quarter valued at $328,000. Allianz Asset Management GmbH increased its stake in Celestica by 7.3% in the third quarter. Allianz Asset Management GmbH now owns 337,397 shares of the technology company’s stock valued at $83,044,000 after purchasing an additional 22,863 shares during the period. Light Street Capital Management LLC acquired a new position in shares of Celestica during the second quarter worth about $26,422,000. Spark Investment Management LLC boosted its stake in shares of Celestica by 17.4% in the third quarter. Spark Investment Management LLC now owns 27,000 shares of the technology company’s stock valued at $6,643,000 after buying an additional 4,000 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its position in shares of Celestica by 2.2% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 150,422 shares of the technology company’s stock worth $22,356,000 after purchasing an additional 3,221 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Celestica

In other news, insider Yann L. Etienvre sold 1,145 shares of Celestica stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total transaction of $324,618.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Todd C. Cooper sold 1,065 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total transaction of $301,938.15. Following the completion of the sale, the president owned 108,970 shares in the company, valued at approximately $30,894,084.70. This trade represents a 0.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 297,923 shares of company stock valued at $88,027,459 in the last quarter. Corporate insiders own 0.52% of the company’s stock.

Celestica Stock Down 1.2%

NYSE:CLS opened at $265.90 on Thursday. Celestica, Inc. has a 52 week low of $58.05 and a 52 week high of $363.40. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average of $293.96 and a 200-day moving average of $286.19. The firm has a market capitalization of $30.59 billion, a PE ratio of 37.03 and a beta of 1.88.

Wall Street Analyst Weigh In

CLS has been the topic of a number of research reports. Canaccord Genuity Group upped their price target on Celestica from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Bank of America started coverage on shares of Celestica in a research report on Wednesday, January 28th. They set a “buy” rating and a $400.00 price target for the company. Wolfe Research upgraded shares of Celestica to a “strong-buy” rating in a research note on Tuesday, February 17th. Citigroup reduced their price objective on Celestica from $375.00 to $338.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Finally, TD Securities raised their target price on Celestica from $305.00 to $330.00 and gave the company a “hold” rating in a research note on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $354.24.

Celestica Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.