SG Capital Management LLC Sells 515,102 Shares of Celestica Inc. (NYSE:CLS)

SG Capital Management LLC lowered its stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 49.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 523,270 shares of the technology company’s stock after selling 515,102 shares during the period. Celestica accounts for approximately 4.7% of SG Capital Management LLC’s holdings, making the stock its 3rd biggest holding. SG Capital Management LLC owned 0.45% of Celestica worth $48,298,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. FMR LLC increased its holdings in Celestica by 91.2% in the fourth quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock valued at $1,078,804,000 after buying an additional 5,574,342 shares during the last quarter. FIL Ltd grew its position in shares of Celestica by 5,976.1% in the 4th quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock worth $319,662,000 after acquiring an additional 3,406,723 shares in the last quarter. Norges Bank acquired a new position in shares of Celestica in the 4th quarter worth approximately $139,008,000. Polar Capital Holdings Plc increased its holdings in shares of Celestica by 822.6% in the 4th quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company’s stock valued at $148,416,000 after acquiring an additional 1,433,681 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Celestica by 64.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock valued at $329,460,000 after acquiring an additional 1,401,877 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CLS shares. JPMorgan Chase & Co. lifted their price objective on shares of Celestica from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Barclays dropped their price objective on shares of Celestica from $157.00 to $126.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. TD Securities upped their target price on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $120.00 price target on shares of Celestica in a research report on Monday, April 28th. Finally, Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and an average target price of $109.55.

Celestica Price Performance

Shares of NYSE CLS opened at $111.49 on Friday. The stock has a market cap of $12.89 billion, a P/E ratio of 29.81 and a beta of 1.65. The firm’s 50-day simple moving average is $87.39 and its 200 day simple moving average is $95.44. Celestica Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $144.27. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Thursday, April 24th. The technology company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Celestica had a net margin of 4.61% and a return on equity of 23.34%. Celestica’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter last year, the company earned $0.83 EPS. Equities analysts expect that Celestica Inc. will post 4.35 EPS for the current year.

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.