Van ECK Associates Corp increased its position in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 40.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,266 shares of the technology company's stock after purchasing an additional 19,221 shares during the quarter. Van ECK Associates Corp owned 0.06% of Celestica worth $3,439,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Celestica during the first quarter valued at about $1,231,000. SG Americas Securities LLC acquired a new stake in shares of Celestica during the 1st quarter valued at about $226,000. PFG Advisors acquired a new stake in shares of Celestica during the 1st quarter valued at about $436,000. Swiss National Bank lifted its holdings in Celestica by 0.6% in the 1st quarter. Swiss National Bank now owns 238,000 shares of the technology company's stock worth $10,690,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Atomi Financial Group Inc. acquired a new stake in Celestica in the 1st quarter worth approximately $324,000. 67.38% of the stock is currently owned by institutional investors.
CLS opened at $85.85 on Friday. Celestica Inc. has a 12-month low of $24.37 and a 12-month high of $86.36. The stock has a market cap of $10.18 billion, a price-to-earnings ratio of 27.25 and a beta of 2.24. The business has a 50 day moving average of $56.99 and a 200-day moving average of $54.45. 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 - Get Free Report) TSE: CLS last released its quarterly 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 during the quarter, compared to the consensus estimate of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The firm's quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 earnings per share. On average, equities research analysts expect that Celestica Inc. will post 3.44 earnings per share for the current year.
Several research analysts have commented on CLS shares. TD Securities lifted their price target on Celestica from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. BMO Capital Markets boosted their price objective on Celestica from $64.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Canaccord Genuity Group upped their price target on Celestica from $53.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, July 26th. TD Cowen increased their target price on Celestica from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada increased their price target on Celestica from $65.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $69.10.
Read Our Latest Stock Analysis on CLS
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.
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