Ajo LP Buys 585,089 Shares of Celestica, Inc. (CLS)
Ajo LP lifted its stake in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 87.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,251,449 shares of the technology company’s stock after acquiring an additional 585,089 shares during the quarter. Ajo LP owned approximately 0.87% of Celestica worth $16,995,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in shares of Celestica by 16.4% in the first quarter. Envestnet Asset Management Inc. now owns 10,678 shares of the technology company’s stock valued at $155,000 after acquiring an additional 1,508 shares during the last quarter. AXA bought a new position in Celestica during the first quarter worth about $212,000. State of Tennessee Treasury Department bought a new position in Celestica during the second quarter worth about $217,000. Eqis Capital Management Inc. grew its holdings in Celestica by 15.7% during the second quarter. Eqis Capital Management Inc. now owns 23,266 shares of the technology company’s stock worth $316,000 after purchasing an additional 3,151 shares during the period. Finally, KCG Holdings Inc. grew its holdings in Celestica by 26.2% during the first quarter. KCG Holdings Inc. now owns 24,769 shares of the technology company’s stock worth $360,000 after purchasing an additional 5,137 shares during the period. 59.83% of the stock is currently owned by institutional investors and hedge funds.
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CLS has been the subject of a number of research analyst reports. BidaskClub cut Celestica from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Bank of America Corporation initiated coverage on Celestica in a report on Thursday, June 15th. They set a “neutral” rating and a $15.50 price target for the company. Scotiabank set a $15.00 price target on Celestica and gave the stock a “sector perform” rating in a report on Wednesday, July 26th. Standpoint Research upgraded Celestica from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. They noted that the move was a valuation call. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Celestica in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $13.92.
Celestica, Inc. (NYSE:CLS) opened at 12.31 on Thursday. The stock’s 50 day moving average is $11.74 and its 200-day moving average is $13.36. The company has a market capitalization of $1.76 billion, a P/E ratio of 13.38 and a beta of 0.67. Celestica, Inc. has a 52-week low of $10.16 and a 52-week high of $14.74.
Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Tuesday, July 25th. The technology company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.08). The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Celestica had a return on equity of 13.64% and a net margin of 2.12%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $0.29 earnings per share. Analysts predict that Celestica, Inc. will post $1.27 EPS for the current fiscal year.
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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