Bay Rivers Group Sells 1,059 Shares of Celestica Inc. (NYSE:CLS)

Bay Rivers Group cut its holdings in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 5.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,279 shares of the technology company’s stock after selling 1,059 shares during the quarter. Bay Rivers Group’s holdings in Celestica were worth $1,779,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Whale Rock Capital Management LLC boosted its holdings in Celestica by 13.0% in the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after acquiring an additional 975,163 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Celestica in the 3rd quarter worth about $61,210,000. Point72 Asset Management L.P. grew its position in Celestica by 38.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock valued at $55,451,000 after purchasing an additional 301,563 shares during the last quarter. Westfield Capital Management Co. LP increased its stake in Celestica by 25.8% during 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 in the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd raised 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 worth $26,799,000 after buying an additional 183,300 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Barclays began coverage on shares of Celestica in a report on Tuesday, November 5th. They set an “overweight” rating and a $91.00 price target on the stock. Stifel Nicolaus lifted their target price on Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. TD Cowen upped their price target on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. UBS Group initiated coverage on Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective for the company. Finally, Canaccord Genuity Group upped their target price 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. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.45.

Celestica Price Performance

NYSE CLS opened at $87.11 on Tuesday. The company has a 50-day moving average price of $96.92 and a 200-day moving average price of $71.01. Celestica Inc. has a 52 week low of $31.82 and a 52 week high of $131.23. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $10.14 billion, a P/E ratio of 27.65 and a beta of 2.25.

Insider Activity at Celestica

In other news, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction on Monday, January 6th. The shares were sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the transaction, the director now owns 1,784 shares in the company, valued at $176,134.32. This trade represents a 93.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is currently 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.