Principal Financial Group Inc. Sells 5,300 Shares of Celestica Inc. (NYSE:CLS)

Principal Financial Group Inc. decreased its stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 1.0% during the third quarter, HoldingsChannel reports. The firm owned 529,390 shares of the technology company’s stock after selling 5,300 shares during the quarter. Principal Financial Group Inc.’s holdings in Celestica were worth $27,094,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CLS. Price T Rowe Associates Inc. MD increased its stake in shares of Celestica by 2,494.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock worth $391,147,000 after acquiring an additional 8,368,293 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Celestica by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,331,184 shares of the technology company’s stock valued at $194,643,000 after purchasing an additional 64,658 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Celestica by 0.3% during the first quarter. Acadian Asset Management LLC now owns 2,640,877 shares of the technology company’s stock valued at $118,730,000 after purchasing an additional 7,335 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Celestica by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock worth $68,024,000 after purchasing an additional 52,807 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its stake in shares of Celestica by 19,876.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock worth $66,770,000 after buying an additional 1,158,823 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Price Performance

Shares of CLS opened at $84.09 on Wednesday. The firm has a fifty day simple moving average of $58.42 and a two-hundred day simple moving average of $55.10. The firm has a market cap of $9.97 billion, a PE ratio of 26.70 and a beta of 2.24. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. Celestica Inc. has a 1-year low of $25.21 and a 1-year high of $87.99.

Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.41 billion. Celestica had a return on equity of 21.58% and a net margin of 4.08%. Celestica’s revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 earnings per share. On average, equities analysts anticipate that Celestica Inc. will post 3.44 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on CLS. TD Securities boosted their target price on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Stifel Nicolaus increased their price objective on shares of Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. BMO Capital Markets lifted their target price on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Cowen upped their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Barclays assumed coverage on shares of Celestica in a research report on Tuesday, November 5th. They set an “overweight” rating and a $91.00 price target for the company. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.10.

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.