W.H. Cornerstone Investments Inc. Invests $215,000 in Celestica, Inc. $CLS

W.H. Cornerstone Investments Inc. acquired a new stake in Celestica, Inc. (NYSE:CLS) (TSE:CLS) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,375 shares of the technology company’s stock, valued at approximately $215,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Celestica by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 4,514,605 shares of the technology company’s stock valued at $356,135,000 after purchasing an additional 35,690 shares during the last quarter. Voya Investment Management LLC grew its stake in Celestica by 362.8% during the 1st quarter. Voya Investment Management LLC now owns 1,854,085 shares of the technology company’s stock worth $146,122,000 after buying an additional 1,453,473 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Celestica by 17.6% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,733,686 shares of the technology company’s stock valued at $271,045,000 after acquiring an additional 259,504 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Celestica by 1.5% during the first quarter. Royal Bank of Canada now owns 1,280,563 shares of the technology company’s stock worth $100,922,000 after acquiring an additional 19,391 shares during the period. Finally, Alkeon Capital Management LLC purchased a new position in shares of Celestica in the 1st quarter valued at about $96,936,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Laurette T. Koellner bought 6,000 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were acquired at an average cost of $341.67 per share, with a total value of $2,050,020.00. Following the completion of 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 this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Celestica Price Performance

Shares of CLS traded down $35.86 during trading hours on Thursday, reaching $298.72. The stock had a trading volume of 1,253,123 shares, compared to its average volume of 3,965,306. The company’s 50-day moving average is $274.88 and its two-hundred day moving average is $193.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.47. Celestica, Inc. has a 12 month low of $58.05 and a 12 month high of $363.40. The stock has a market capitalization of $34.35 billion, a PE ratio of 48.61 and a beta of 1.85.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CLS shares. Canaccord Genuity Group increased their target price on Celestica from $126.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. BNP Paribas reiterated an “outperform” rating and set a $300.00 price objective on shares of Celestica in a research note on Thursday, September 25th. New Street Research set a $400.00 price objective on Celestica in a research note on Wednesday, October 29th. The Goldman Sachs Group raised their target price on Celestica from $340.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, UBS Group increased their price objective on Celestica from $208.00 to $350.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and an average price target of $336.00.

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.