Oliver Luxxe Assets LLC Decreases Stock Position in Celestica, Inc. $CLS

Oliver Luxxe Assets LLC trimmed its stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 50.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,044 shares of the technology company’s stock after selling 20,247 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Celestica were worth $4,936,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CLS. Thompson Davis & CO. Inc. purchased a new stake in shares of Celestica in the 2nd quarter valued at approximately $328,000. Y Intercept Hong Kong Ltd lifted its position in shares of Celestica by 406.3% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 52,606 shares of the technology company’s stock worth $8,212,000 after purchasing an additional 42,215 shares during the last quarter. Fortis Capital Advisors LLC acquired a new position in shares of Celestica during the second quarter worth $343,000. Light Street Capital Management LLC acquired a new position in shares of Celestica during the second quarter worth $26,422,000. Finally, TD Waterhouse Canada Inc. increased its holdings in Celestica by 2.2% in the second quarter. TD Waterhouse Canada Inc. now owns 150,422 shares of the technology company’s stock valued at $22,356,000 after buying an additional 3,221 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Insiders Place Their Bets

In other Celestica news, Director Laurette T. Koellner acquired 6,000 shares of the stock in a transaction on Thursday, October 30th. The shares were bought at an average cost of $341.67 per share, with a total value of $2,050,020.00. Following the transaction, the director owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CLS has been the subject of a number of recent analyst reports. CIBC lifted their price target on Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. The Goldman Sachs Group raised their target price on Celestica from $340.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. BMO Capital Markets set a $370.00 target price on Celestica and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. increased their price target on shares of Celestica from $295.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $385.00 price objective (up previously from $230.00) on shares of Celestica in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $336.13.

Celestica Trading Up 4.7%

NYSE:CLS opened at $302.03 on Friday. The company has a market capitalization of $34.75 billion, a PE ratio of 49.03 and a beta of 1.87. Celestica, Inc. has a 52-week low of $58.05 and a 52-week high of $363.40. The stock’s 50 day moving average price is $313.60 and its 200 day moving average price is $251.04. The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.37.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Monday, October 27th. The technology company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.13. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.01 billion. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The company’s revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.04 earnings per share. On average, research analysts anticipate that Celestica, Inc. will post 4.35 EPS for the current year.

Celestica Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.