First National Bank of Hutchinson Acquires Shares of 5,178 Celestica Inc. (NYSE:CLS)

First National Bank of Hutchinson bought a new position in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,178 shares of the technology company’s stock, valued at approximately $265,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its holdings in Celestica by 2,494.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock worth $391,147,000 after acquiring an additional 8,368,293 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Celestica by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,331,184 shares of the technology company’s stock worth $194,643,000 after purchasing an additional 64,658 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Celestica by 0.3% during the 1st quarter. Acadian Asset Management LLC now owns 2,640,877 shares of the technology company’s stock worth $118,730,000 after purchasing an additional 7,335 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Celestica by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock valued at $68,024,000 after buying an additional 52,807 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its holdings in Celestica by 19,876.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock worth $66,770,000 after buying an additional 1,158,823 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CLS. Canaccord Genuity Group increased their target price on Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a report on Friday, July 26th. Stifel Nicolaus upgraded Celestica from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Monday, September 9th. CIBC lifted their target price on shares of Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Royal Bank of Canada increased their target price on shares of Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Finally, TD Securities raised their price target on shares of Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $61.88.

Celestica Trading Up 2.6 %

Shares of CLS stock opened at $57.46 on Thursday. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49. Celestica Inc. has a twelve month low of $20.87 and a twelve month high of $64.56. The company’s 50-day moving average price is $51.89 and its 200-day moving average price is $52.02. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of 21.44 and a beta of 2.28.

Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.10. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.25 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. Celestica’s revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. As a group, equities analysts predict that Celestica Inc. will post 3.22 earnings per share for the current year.

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.