Moors & Cabot Inc. Makes New $258,000 Investment in Celestica Inc. (NYSE:CLS)

Moors & Cabot Inc. bought a new position in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,792 shares of the technology company’s stock, valued at approximately $258,000.

Several other hedge funds also recently bought and sold shares of CLS. Whale Rock Capital Management LLC boosted 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 valued at $432,846,000 after purchasing an additional 975,163 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Celestica in the third quarter valued at approximately $61,210,000. Point72 Asset Management L.P. boosted its stake in shares of Celestica by 38.5% in the third quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock valued at $55,451,000 after purchasing an additional 301,563 shares during the period. Westfield Capital Management Co. LP boosted its stake in shares of Celestica by 25.8% in the third quarter. Westfield Capital Management Co. LP now owns 536,249 shares of the technology company’s stock valued at $27,413,000 after purchasing an additional 109,972 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Celestica in the fourth quarter valued at approximately $47,685,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CLS. Barclays raised their price objective on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. began coverage on shares of Celestica in a research note on Friday, February 21st. They issued an “overweight” rating and a $166.00 price objective for the company. CIBC upgraded shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target for the company in a research note on Friday, January 31st. UBS Group began coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target for the company. Finally, Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and an average price target of $110.83.

Insiders Place Their Bets

In other news, President Todd C. Cooper sold 9,538 shares of Celestica stock in a transaction on Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $1,216,476.52. Following the transaction, the president now directly owns 175,426 shares of the company’s stock, valued at $22,373,832.04. The trade was a 5.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert Mionis sold 441,325 shares of Celestica stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the completion of the transaction, the chief executive officer now directly owns 531,417 shares in the company, valued at $64,981,670.76. The trade was a 45.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is owned by corporate insiders.

Celestica Stock Up 6.3 %

CLS stock opened at $91.82 on Monday. 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 twelve month low of $40.25 and a twelve month high of $144.27. The company’s 50 day moving average is $110.59 and its two-hundred day moving average is $85.19. The stock has a market cap of $10.68 billion, a P/E ratio of 24.55 and a beta of 2.21.

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.