Franklin Resources Inc. Increases Holdings in Celestica Inc. (NYSE:CLS)

Franklin Resources Inc. lifted its position in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 21.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 276,788 shares of the technology company’s stock after buying an additional 48,251 shares during the period. Franklin Resources Inc. owned approximately 0.24% of Celestica worth $14,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Whale Rock Capital Management LLC lifted its holdings in 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 valued at $432,846,000 after acquiring an additional 975,163 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in shares of Celestica in the 3rd quarter worth approximately $61,210,000. Dimensional Fund Advisors LP lifted its stake 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 during the period. Driehaus Capital Management LLC boosted its holdings in shares of Celestica by 19,876.9% in the second 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. Finally, Bank of Montreal Can grew its position in Celestica by 0.8% during the second quarter. Bank of Montreal Can now owns 1,150,806 shares of the technology company’s stock valued at $68,470,000 after buying an additional 9,462 shares during the period. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Celestica Trading Up 2.6 %

Shares of CLS stock opened at $95.45 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $11.11 billion, a price-to-earnings ratio of 30.30 and a beta of 2.27. Celestica Inc. has a 12-month low of $26.62 and a 12-month high of $100.51. The stock’s 50-day moving average price is $80.35 and its 200-day moving average price is $62.41.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The business 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%. The company’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. Equities research analysts predict that Celestica Inc. will post 3.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CLS shares. BMO Capital Markets increased their price target on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. TD Cowen lifted their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. UBS Group assumed coverage on Celestica in a research report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target for the company. Canaccord Genuity Group lifted their price objective on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday. Finally, Royal Bank of Canada increased their target price on shares of Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.82.

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.