Seven Eight Capital LP Increases Stock Position in Celestica Inc. (NYSE:CLS)

Seven Eight Capital LP grew its holdings in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 23.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,042 shares of the technology company’s stock after purchasing an additional 9,690 shares during the period. Seven Eight Capital LP’s holdings in Celestica were worth $2,926,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wolff Wiese Magana LLC grew its stake in shares of Celestica by 32.1% in the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after acquiring an additional 170 shares during the period. Principal Securities Inc. purchased a new stake in shares of Celestica in the 4th quarter worth $42,000. Naples Money Management LLC raised its holdings in Celestica by 90.0% in the 2nd quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock worth $55,000 after purchasing an additional 450 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in Celestica during the second quarter valued at $59,000. Finally, UMB Bank n.a. bought a new stake in Celestica during the first quarter valued at about $64,000. Institutional investors own 67.38% of the company’s stock.

Celestica Stock Up 1.9 %

NYSE CLS opened at $47.02 on Wednesday. Celestica Inc. has a one year low of $20.87 and a one year high of $63.49. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47. The stock has a 50 day moving average price of $51.15 and a 200-day moving average price of $50.51. The company has a market capitalization of $5.59 billion, a P/E ratio of 17.54 and a beta of 2.29.

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

Analyst Ratings Changes

Several research firms have recently commented on CLS. Stifel Nicolaus raised Celestica from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Monday, September 9th. Canaccord Genuity Group lifted their target price on Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 26th. BMO Capital Markets upped their price target on Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. CIBC lifted their price objective on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada upped their target price on shares of Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Celestica has a consensus rating of “Moderate Buy” and an average price target of $58.38.

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.