Arrowstreet Capital Limited Partnership Decreases Stake in Celestica, Inc. (CLS)
Arrowstreet Capital Limited Partnership reduced its holdings in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 7.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,558,589 shares of the technology company’s stock after selling 120,940 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.09% of Celestica worth $21,157,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Gotham Asset Management LLC grew its stake in shares of 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 acquiring an additional 16,776 shares in the last quarter. PDT Partners LLC grew its stake in shares of Celestica by 32.1% during the 2nd quarter. PDT Partners LLC now owns 28,940 shares of the technology company’s stock worth $393,000 after acquiring an additional 7,040 shares in the last quarter. OxFORD Asset Management LLP grew its stake in shares of Celestica by 8.3% during the 2nd quarter. OxFORD Asset Management LLP now owns 185,289 shares of the technology company’s stock worth $2,516,000 after acquiring an additional 14,176 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Celestica by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 595,293 shares of the technology company’s stock worth $8,084,000 after acquiring an additional 5,276 shares in the last quarter. Finally, Citadel Advisors LLC grew its stake in shares of Celestica by 36.1% during the 2nd quarter. Citadel Advisors LLC now owns 89,443 shares of the technology company’s stock worth $1,215,000 after acquiring an additional 23,710 shares in the last quarter. 59.80% of the stock is owned by institutional investors.
Celestica, Inc. (NYSE CLS) traded up 0.56% during trading on Wednesday, hitting $12.57. 41,030 shares of the company traded hands. The stock has a 50-day moving average price of $12.10 and a 200-day moving average price of $13.18. The firm has a market capitalization of $1.80 billion, a P/E ratio of 13.66 and a beta of 0.72. Celestica, Inc. has a 12-month low of $10.16 and a 12-month high of $14.74.
Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.08). Celestica had a return on equity of 13.64% and a net margin of 2.12%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the company posted $0.29 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts expect that Celestica, Inc. will post $1.27 EPS for the current fiscal year.
Several equities analysts have recently weighed in on CLS shares. BidaskClub cut shares of Celestica from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. Macquarie cut shares of Celestica from an “outperform” rating to a “neutral” rating in a research note on Thursday, June 22nd. Bank of America Corporation assumed coverage on shares of Celestica in a research note on Thursday, June 15th. They issued a “neutral” rating and a $15.50 target price for the company. Scotiabank set a $15.00 target price on shares of Celestica and gave the company a “sector perform” rating in a research note on Wednesday, July 26th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Celestica in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $14.02.
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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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