Foundry Partners LLC Reduces Stock Position in Celestica Inc. (NYSE:CLS)

Foundry Partners LLC lessened its stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 33.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 95,498 shares of the technology company’s stock after selling 48,879 shares during the quarter. Foundry Partners LLC owned 0.08% of Celestica worth $2,796,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Trexquant Investment LP lifted its holdings in shares of Celestica by 0.6% in the 3rd quarter. Trexquant Investment LP now owns 88,491 shares of the technology company’s stock valued at $2,170,000 after buying an additional 502 shares during the period. Clearstead Advisors LLC acquired a new position in shares of Celestica in the 3rd quarter valued at about $32,000. Blue Trust Inc. lifted its holdings in shares of Celestica by 128.6% in the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock valued at $72,000 after buying an additional 1,384 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Celestica by 8.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,540 shares of the technology company’s stock valued at $811,000 after buying an additional 2,071 shares during the period. Finally, Covestor Ltd acquired a new position in shares of Celestica in the 3rd quarter valued at about $68,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Analyst Upgrades and Downgrades

CLS has been the subject of several analyst reports. StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. CIBC upped their price target on Celestica from $33.00 to $41.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Canaccord Genuity Group upped their price target on Celestica from $32.50 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Royal Bank of Canada upped their price target on Celestica from $38.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday. Finally, BMO Capital Markets upped their price target on Celestica from $37.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.38.

Celestica Price Performance

Shares of Celestica stock opened at $42.98 on Tuesday. The business has a 50 day simple moving average of $44.10 and a two-hundred day simple moving average of $33.87. Celestica Inc. has a 12 month low of $10.50 and a 12 month high of $51.12. The stock has a market capitalization of $5.13 billion, a P/E ratio of 21.17 and a beta of 2.22. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.40 and a quick ratio of 0.75.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Celestica had a return on equity of 17.09% and a net margin of 3.07%. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.08 billion. As a group, analysts predict that Celestica Inc. will post 2.59 EPS for the current fiscal 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.