HighPoint Advisor Group LLC Purchases New Shares in Celestica Inc. (NYSE:CLS)

HighPoint Advisor Group LLC acquired a new position in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) during the 4th quarter, Holdings Channel.com reports. The fund acquired 1,735 shares of the technology company’s stock, valued at approximately $160,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new stake in shares of Celestica in the 4th quarter worth approximately $139,008,000. Arrowstreet Capital Limited Partnership boosted its holdings in Celestica by 64.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock worth $329,460,000 after acquiring an additional 1,401,877 shares in the last quarter. Whale Rock Capital Management LLC grew its stake in shares of Celestica by 13.0% in the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after acquiring an additional 975,163 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Celestica by 290.4% in the fourth quarter. Franklin Resources Inc. now owns 1,080,568 shares of the technology company’s stock worth $99,735,000 after acquiring an additional 803,780 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Celestica during the fourth quarter valued at $47,685,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

CLS has been the topic of several recent analyst reports. TD Securities increased their price objective on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Stifel Nicolaus raised their price target on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. CIBC raised Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. began coverage on shares of Celestica in a research report on Friday, February 21st. They issued an “overweight” rating and a $166.00 target price for the company. Finally, Barclays boosted their price target on Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Stock Performance

NYSE CLS opened at $66.12 on Friday. 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 Inc. has a twelve month low of $40.25 and a twelve month high of $144.27. The business has a 50-day moving average price of $103.62 and a 200-day moving average price of $88.80. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 17.68 and a beta of 2.09.

Insiders Place Their Bets

In other Celestica news, CEO Robert Mionis sold 52,588 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $6,707,073.52. Following the completion of the transaction, the chief executive officer now owns 531,417 shares in the company, valued at $67,776,924.18. This trade represents a 9.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Todd C. Cooper sold 65,000 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the completion of the transaction, the president now directly owns 110,426 shares of the company’s stock, valued at approximately $14,331,086.28. The trade was a 37.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock worth $119,142,019 in the last three months. 1.00% of the stock is owned by company insiders.

Celestica 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.