Oppenheimer & Co. Inc. Lowers Stock Holdings in Celestica, Inc. $CLS

Oppenheimer & Co. Inc. lessened its stake in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 57.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,919 shares of the technology company’s stock after selling 8,126 shares during the period. Oppenheimer & Co. Inc.’s holdings in Celestica were worth $1,458,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CLS. IFP Advisors Inc grew its stake in shares of Celestica by 134.6% in the 2nd quarter. IFP Advisors Inc now owns 685 shares of the technology company’s stock valued at $107,000 after purchasing an additional 393 shares during the last quarter. MGO One Seven LLC purchased a new position in Celestica in the 2nd quarter valued at $499,000. Atria Wealth Solutions Inc. increased its stake in Celestica by 63.8% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 6,674 shares of the technology company’s stock valued at $1,044,000 after buying an additional 2,599 shares during the period. Axxcess Wealth Management LLC purchased a new position in Celestica during the 2nd quarter worth $246,000. Finally, Allianz Asset Management GmbH lifted its stake in shares of Celestica by 10.2% in the 2nd quarter. Allianz Asset Management GmbH now owns 314,534 shares of the technology company’s stock worth $49,180,000 after acquiring an additional 29,051 shares during the period. 67.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Celestica

In other Celestica news, President Jason Phillips sold 100,000 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the completion of the transaction, the president directly owned 12,584 shares in the company, valued at approximately $3,887,449.28. This trade represents a 88.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Yann L. Etienvre sold 1,145 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total transaction of $324,618.95. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 297,923 shares of company stock valued at $88,027,459. Insiders own 0.52% of the company’s stock.

Celestica Stock Performance

NYSE CLS opened at $280.86 on Friday. The business has a 50 day moving average price of $304.95 and a 200 day moving average price of $276.05. The company has a market capitalization of $32.31 billion, a P/E ratio of 39.12 and a beta of 1.86. Celestica, Inc. has a 1-year low of $58.05 and a 1-year high of $363.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.88.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CLS shares. The Goldman Sachs Group boosted their price target on shares of Celestica from $340.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. BMO Capital Markets reissued an “outperform” rating on shares of Celestica in a research note on Monday, January 26th. New Street Research set a $400.00 price target on Celestica in a research note on Wednesday, October 29th. Zacks Research raised Celestica from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Finally, Canaccord Genuity Group raised their target price on Celestica from $400.00 to $430.00 and gave the company a “buy” rating in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $356.59.

Celestica Company 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.