Schechter Investment Advisors LLC Acquires New Position in Celestica Inc. (NYSE:CLS)

Schechter Investment Advisors LLC acquired a new position in Celestica Inc. (NYSE:CLS) (TSE:CLS) in the 4th quarter, Holdings Channel reports. The firm acquired 3,192 shares of the technology company’s stock, valued at approximately $294,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Whale Rock Capital Management LLC increased its holdings in Celestica by 13.0% in the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after purchasing an additional 975,163 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Celestica during the 3rd quarter worth $61,210,000. Point72 Asset Management L.P. increased its stake in shares of Celestica by 38.5% during the third quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock worth $55,451,000 after buying an additional 301,563 shares during the period. Westfield Capital Management Co. LP increased its position in shares of Celestica by 25.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 536,249 shares of the technology company’s stock valued at $27,413,000 after purchasing an additional 109,972 shares during the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd increased its holdings in Celestica by 53.8% in the third quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock valued at $26,799,000 after buying an additional 183,300 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Canaccord Genuity Group increased their price target on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Stifel Nicolaus upped their price objective on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. assumed coverage on shares of Celestica in a report on Friday, February 21st. They issued an “overweight” rating and a $166.00 target price on the stock. TD Securities upped their target price on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Barclays raised their target price on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.83.

Celestica Price Performance

Shares of NYSE CLS opened at $90.88 on Thursday. The company has a market capitalization of $10.58 billion, a price-to-earnings ratio of 24.30 and a beta of 2.21. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. Celestica Inc. has a 1-year low of $40.25 and a 1-year high of $144.27. The business has a 50-day moving average of $111.85 and a 200-day moving average of $83.24.

Insiders Place Their Bets

In related news, insider Yann L. Etienvre sold 9,181 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $1,170,944.74. Following the sale, the insider now directly owns 83,179 shares of the company’s stock, valued at $10,608,649.66. This represents a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Todd C. Cooper sold 65,000 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the transaction, the president now directly owns 110,426 shares in the company, valued at $14,331,086.28. The trade was a 37.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 959,381 shares of company stock worth $119,142,019 in the last 90 days. 1.00% of the stock is owned by company insiders.

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.