Quantbot Technologies LP Cuts Stock Position in Celestica, Inc. $CLS

Quantbot Technologies LP cut its position in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 47.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,039 shares of the technology company’s stock after selling 19,559 shares during the quarter. Quantbot Technologies LP’s holdings in Celestica were worth $3,441,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of Celestica during the 2nd quarter worth approximately $236,069,000. Voya Investment Management LLC grew its holdings in Celestica by 362.8% in the first quarter. Voya Investment Management LLC now owns 1,854,085 shares of the technology company’s stock worth $146,122,000 after purchasing an additional 1,453,473 shares during the last quarter. Alkeon Capital Management LLC purchased a new position in Celestica in the first quarter worth $96,936,000. Alliancebernstein L.P. increased its position in shares of Celestica by 405.5% during the first quarter. Alliancebernstein L.P. now owns 731,937 shares of the technology company’s stock worth $57,684,000 after purchasing an additional 587,145 shares in the last quarter. Finally, Picton Mahoney Asset Management purchased a new stake in shares of Celestica during the 2nd quarter valued at $90,425,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Stifel Nicolaus restated a “buy” rating and set a $385.00 target price (up from $230.00) on shares of Celestica in a research note on Wednesday, October 29th. TD Securities boosted their price target on Celestica from $238.00 to $305.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada increased their price objective on shares of Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Celestica in a research note on Wednesday, October 8th. Finally, CICC Research assumed coverage on shares of Celestica in a research note on Tuesday, August 19th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $336.13.

Insider Activity

In other Celestica news, Director Laurette T. Koellner bought 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The stock was bought at an average cost of $341.67 per share, for a total transaction of $2,050,020.00. Following the completion of the transaction, the director directly owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. This trade represents a ? increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.52% of the stock is currently owned by company insiders.

Celestica Trading Up 4.6%

Celestica stock opened at $322.53 on Friday. The stock has a 50-day moving average price of $295.92 and a 200 day moving average price of $217.14. The company has a market capitalization of $37.09 billion, a price-to-earnings ratio of 52.36 and a beta of 1.83. Celestica, Inc. has a 52 week low of $58.05 and a 52 week high of $363.40. The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.37.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.13. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the prior year, the company earned $1.04 EPS. Celestica’s quarterly revenue was up 27.8% on a year-over-year basis. Sell-side analysts anticipate that Celestica, Inc. will post 4.35 EPS for the current year.

Celestica Profile

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.