Independent Advisor Alliance Has $1.51 Million Stock Position in Celestica Inc. (NYSE:CLS)

Independent Advisor Alliance lifted its stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 39.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,509 shares of the technology company’s stock after purchasing an additional 8,359 shares during the quarter. Independent Advisor Alliance’s holdings in Celestica were worth $1,508,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Westover Capital Advisors LLC boosted its holdings in Celestica by 20.9% in the second quarter. Westover Capital Advisors LLC now owns 21,776 shares of the technology company’s stock worth $1,248,000 after acquiring an additional 3,764 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Celestica during the third quarter worth approximately $61,210,000. Sigma Planning Corp bought a new position in shares of Celestica in the 3rd quarter worth $420,000. Advisors Asset Management Inc. grew its position in Celestica by 61.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock valued at $1,682,000 after purchasing an additional 12,584 shares during the period. Finally, Van ECK Associates Corp increased its stake in Celestica by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 67,266 shares of the technology company’s stock valued at $3,439,000 after purchasing an additional 19,221 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Stock Up 1.2 %

Shares of NYSE:CLS opened at $86.66 on Wednesday. Celestica Inc. has a 1 year low of $25.83 and a 1 year high of $93.15. The company has a market capitalization of $10.08 billion, a PE ratio of 27.51 and a beta of 2.24. The business has a fifty day moving average price of $65.74 and a two-hundred day moving average price of $57.61. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CLS. TD Securities raised their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. TD Cowen lifted their price target on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Stifel Nicolaus boosted their price objective on Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. UBS Group started coverage on Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price on the stock. Finally, Barclays initiated coverage on Celestica in a research report on Tuesday, November 5th. They set an “overweight” rating and a $91.00 target price on the stock. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.45.

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.