Claret Asset Management Corp Buys Shares of 21,848 Celestica Inc. (NYSE:CLS)

Claret Asset Management Corp bought a new position in Celestica Inc. (NYSE:CLS) (TSE:CLS) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,848 shares of the technology company’s stock, valued at approximately $2,017,000.

Several other hedge funds also recently modified their holdings of the company. Cornerstone Wealth Management LLC purchased a new stake in Celestica during the fourth quarter valued at about $385,000. Raymond James Financial Inc. bought a new stake in Celestica in the fourth quarter worth $47,685,000. Schechter Investment Advisors LLC acquired a new position in shares of Celestica during the 4th quarter worth about $294,000. American Century Companies Inc. increased its position in Celestica by 16.4% in the 4th quarter. American Century Companies Inc. now owns 219,062 shares of the technology company’s stock worth $20,217,000 after buying an additional 30,851 shares during the period. Finally, Fruth Investment Management bought a new stake in Celestica in the 4th quarter valued at $286,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Price Performance

CLS opened at $84.12 on Friday. The stock has a 50-day moving average price of $94.54 and a 200-day moving average price of $90.66. Celestica Inc. has a 1 year low of $40.25 and a 1 year high of $144.27. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The firm has a market cap of $9.75 billion, a PE ratio of 22.49 and a beta of 2.09.

Insider Buying and Selling at Celestica

In related news, President Todd C. Cooper sold 9,538 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $1,216,476.52. Following the completion of the sale, the president now directly owns 175,426 shares of the company’s stock, valued at approximately $22,373,832.04. This trade represents a 5.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Yann L. Etienvre sold 9,181 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,170,944.74. Following the completion of the transaction, the insider now directly owns 83,179 shares in the company, valued at approximately $10,608,649.66. This trade represents a 9.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 934,381 shares of company stock worth $116,673,769 in the last three months. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CLS. Stifel Nicolaus increased their price objective on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their target price on shares of Celestica from $166.00 to $105.00 and set an “overweight” rating for the company in a research note on Thursday. Royal Bank of Canada boosted their price objective on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. CIBC decreased their price target on Celestica from $150.00 to $120.00 and set an “outperformer” rating for the company in a research note on Tuesday. Finally, Canaccord Genuity Group lifted their price target on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $103.25.

Celestica Company 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.