Celestica Inc. (NYSE:CLS) Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. cut its position in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 20.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,691,186 shares of the technology company’s stock after selling 439,540 shares during the quarter. Celestica accounts for about 4.0% of Hillsdale Investment Management Inc.’s investment portfolio, making the stock its largest holding. Hillsdale Investment Management Inc. owned about 1.42% of Celestica worth $49,556,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Celestica in the 3rd quarter valued at $1,191,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Celestica by 29.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,469 shares of the technology company’s stock worth $626,000 after purchasing an additional 5,758 shares during the period. Privium Fund Management UK Ltd bought a new stake in Celestica during the third quarter valued at about $162,000. Barclays PLC boosted its stake in Celestica by 193.4% during the 3rd quarter. Barclays PLC now owns 59,675 shares of the technology company’s stock valued at $1,463,000 after purchasing an additional 39,339 shares during the period. Finally, Clearstead Advisors LLC acquired a new stake in shares of Celestica in the third quarter worth $32,000. Institutional investors own 67.38% of the company’s stock.

Celestica Price Performance

CLS traded down $0.84 during trading on Friday, hitting $51.58. 1,315,146 shares of the stock traded hands, compared to its average volume of 2,824,815. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.78. Celestica Inc. has a twelve month low of $11.13 and a twelve month high of $53.01. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 19.25 and a beta of 2.25. The business has a 50 day moving average price of $45.94 and a 200 day moving average price of $36.84.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Celestica had a return on equity of 18.25% and a net margin of 3.86%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.10 billion. Equities research analysts forecast that Celestica Inc. will post 2.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Fox Advisors initiated coverage on shares of Celestica in a research note on Wednesday. They issued an “overweight” rating and a $60.00 price objective for the company. Royal Bank of Canada lifted their price objective on Celestica from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Sunday, April 28th. CIBC reiterated a “neutral” rating and issued a $49.00 price objective (up from $41.00) on shares of Celestica in a research report on Friday, April 26th. Stifel Nicolaus lifted their target price on shares of Celestica from $48.00 to $51.00 and gave the stock a “hold” rating in a report on Monday, May 13th. Finally, BMO Capital Markets raised their target price on Celestica from $37.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and an average target price of $44.56.

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.