Kendall Capital Management Cuts Stock Position in Celestica, Inc. $CLS

Kendall Capital Management decreased its holdings in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 10.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,784 shares of the technology company’s stock after selling 3,438 shares during the quarter. Celestica accounts for approximately 1.7% of Kendall Capital Management’s holdings, making the stock its 10th largest position. Kendall Capital Management’s holdings in Celestica were worth $7,338,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. raised its position in shares of Celestica by 20.0% during the third quarter. Pinney & Scofield Inc. now owns 180 shares of the technology company’s stock worth $44,000 after purchasing an additional 30 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Celestica by 42.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after buying an additional 37 shares during the last quarter. World Equity Group Inc. increased its stake in shares of Celestica by 1.7% during the 3rd quarter. World Equity Group Inc. now owns 2,263 shares of the technology company’s stock worth $558,000 after purchasing an additional 38 shares during the last quarter. Pure Financial Advisors LLC raised its holdings in Celestica by 3.2% during the third quarter. Pure Financial Advisors LLC now owns 1,617 shares of the technology company’s stock valued at $398,000 after buying an additional 50 shares in the last quarter. Finally, McIlrath & Eck LLC lifted its holdings in Celestica by 43.3% in the 3rd quarter. McIlrath & Eck LLC now owns 182 shares of the technology company’s stock worth $45,000 after purchasing an additional 55 shares during the last quarter. Institutional investors own 67.38% of the company’s stock.

Celestica Stock Performance

NYSE CLS opened at $269.08 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $30.96 billion, a P/E ratio of 37.48 and a beta of 1.88. Celestica, Inc. has a 12-month low of $58.05 and a 12-month high of $363.40. The firm has a 50-day moving average price of $294.56 and a two-hundred day moving average price of $286.33.

Insider Activity

In related news, President Jason Phillips sold 100,000 shares of the stock in a transaction that occurred on 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 sale, the president 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 is accessible through this link. Also, insider Yann L. Etienvre sold 1,145 shares of Celestica stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total value of $324,618.95. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 297,923 shares of company stock worth $88,027,459. Corporate insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CLS shares. Citigroup decreased their target price on Celestica from $375.00 to $338.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Celestica in a research report on Wednesday, January 21st. Barclays upped their price target on Celestica from $359.00 to $391.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $400.00 price target on shares of Celestica in a research report on Thursday, January 22nd. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Celestica in a report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.