Point72 Asia Singapore Pte. Ltd. Trims Stake in Celestica Inc. (NYSE:CLS)

Point72 Asia Singapore Pte. Ltd. lessened its stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 84.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,990 shares of the technology company’s stock after selling 94,810 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Celestica were worth $1,567,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Peregrine Capital Management LLC acquired a new stake in shares of Celestica during the 4th quarter valued at about $30,000. Pinpoint Asset Management Ltd increased its position in shares of Celestica by 109.6% in the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock valued at $32,000 after buying an additional 182 shares in the last quarter. Bessemer Group Inc. acquired a new position in shares of Celestica during the 4th quarter worth approximately $42,000. R Squared Ltd purchased a new position in shares of Celestica during the 4th quarter valued at approximately $51,000. Finally, IFP Advisors Inc lifted its position in shares of Celestica by 122.7% during the 4th quarter. IFP Advisors Inc now owns 668 shares of the technology company’s stock valued at $62,000 after buying an additional 368 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Stock Performance

Shares of Celestica stock opened at $112.85 on Thursday. The business’s 50 day moving average price is $86.78 and its 200 day moving average price is $95.16. The company has a market cap of $13.05 billion, a price-to-earnings ratio of 30.17 and a beta of 1.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica Inc. has a one year low of $40.25 and a one year high of $144.27.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.10 by $0.10. Celestica had a return on equity of 23.34% and a net margin of 4.61%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the firm earned $0.83 EPS. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. On average, research analysts predict that Celestica Inc. will post 4.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. CIBC reduced their price objective on shares of Celestica from $150.00 to $120.00 and set an “outperformer” rating for the company in a research report on Tuesday, April 15th. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective on Celestica from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Royal Bank of Canada reissued an “outperform” rating and set a $120.00 target price on shares of Celestica in a report on Monday, April 28th. Finally, Barclays lowered their price target on Celestica from $157.00 to $126.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.42.

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.