Celestica Inc. (NYSE:CLS) Shares Sold by NewGen Asset Management Ltd

NewGen Asset Management Ltd lowered its stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 38.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 400,000 shares of the technology company’s stock after selling 246,292 shares during the quarter. Celestica comprises 6.0% of NewGen Asset Management Ltd’s portfolio, making the stock its 6th largest position. NewGen Asset Management Ltd owned about 0.34% of Celestica worth $11,712,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Trexquant Investment LP grew its stake in shares of Celestica by 0.6% in the third 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 in the last quarter. Clearstead Advisors LLC acquired a new stake in shares of Celestica in the third quarter valued at about $32,000. Blue Trust Inc. grew its stake in shares of Celestica by 128.6% in the fourth 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Celestica by 8.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,540 shares of the technology company’s stock valued at $811,000 after purchasing an additional 2,071 shares during the last quarter. Finally, Covestor Ltd purchased a new position in Celestica in the third quarter valued at about $68,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

CLS has been the subject of a number of analyst reports. TD Securities increased their price target on Celestica from $33.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Stifel Nicolaus increased their price target on Celestica from $36.00 to $48.00 and gave the company a “hold” rating in a report on Friday, April 26th. BMO Capital Markets increased their price target on Celestica from $37.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Canaccord Genuity Group increased their price target on Celestica from $48.00 to $53.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $42.25.

Celestica Stock Performance

NYSE:CLS traded up $0.86 during trading hours on Friday, reaching $44.86. 2,483,102 shares of the stock were exchanged, compared to its average volume of 2,499,134. The company has a quick ratio of 0.78, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. The firm has a 50 day simple moving average of $45.03 and a 200-day simple moving average of $35.03. The stock has a market capitalization of $5.35 billion, a P/E ratio of 16.74 and a beta of 2.25. Celestica Inc. has a 52 week low of $10.63 and a 52 week high of $51.12.

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.