Royce & Associates LP increased its stake in shares of Celestica Inc (NYSE:CLS) (TSE:CLS) by 27.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,961,789 shares of the technology company’s stock after buying an additional 854,186 shares during the quarter. Royce & Associates LP’s holdings in Celestica were worth $41,520,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd grew its stake in Celestica by 5.6% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 10,957 shares of the technology company’s stock worth $149,000 after buying an additional 579 shares during the last quarter. FineMark National Bank & Trust bought a new position in Celestica during the 3rd quarter worth $307,000. Balter Liquid Alternatives LLC grew its stake in Celestica by 163.9% during the 4th quarter. Balter Liquid Alternatives LLC now owns 29,786 shares of the technology company’s stock worth $312,000 after buying an additional 18,501 shares during the last quarter. Quantbot Technologies LP grew its stake in Celestica by 908.5% during the 3rd quarter. Quantbot Technologies LP now owns 25,655 shares of the technology company’s stock worth $317,000 after buying an additional 23,111 shares during the last quarter. Finally, Gotham Asset Management LLC grew its stake in Celestica by 126.9% during the 2nd quarter. Gotham Asset Management LLC now owns 29,999 shares of the technology company’s stock worth $407,000 after buying an additional 16,776 shares during the last quarter. Hedge funds and other institutional investors own 66.80% of the company’s stock.
Celestica Inc (CLS) opened at $10.68 on Friday. Celestica Inc has a 52 week low of $9.79 and a 52 week high of $14.74. The stock has a market capitalization of $1,335.92, a price-to-earnings ratio of 13.19 and a beta of 0.71. The company has a quick ratio of 1.10, a current ratio of 1.94 and a debt-to-equity ratio of 0.12.
Celestica announced that its Board of Directors has authorized a stock buyback plan on Thursday, October 26th that permits the company to repurchase 1,000% of shares. This repurchase authorization permits the technology company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
Several research firms have recently issued reports on CLS. Royal Bank of Canada decreased their price target on Celestica from $15.00 to $13.00 and set a “sector perform” rating for the company in a research note on Friday, October 27th. TD Securities decreased their price target on Celestica from $13.50 to $11.50 and set a “hold” rating for the company in a research note on Friday, October 27th. Stifel Nicolaus decreased their price target on Celestica from $14.00 to $13.00 and set a “hold” rating for the company in a research note on Thursday, January 25th. Canaccord Genuity reissued a “buy” rating and issued a $13.00 price target on shares of Celestica in a research note on Thursday, January 25th. Finally, TheStreet cut Celestica from a “b” rating to a “c+” rating in a research note on Thursday, November 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $13.36.
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Celestica Inc is a provider of supply chain solutions. The Company operates in electronics manufacturing services business segment. The Company offers a range of services to its customers, including design and development, engineering services, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics and after-market repair and return services.
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