HighTower Advisors LLC Reduces Holdings in Celestica Inc. (NYSE:CLS)

HighTower Advisors LLC cut its stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 38.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 7,547 shares of the technology company’s stock after selling 4,689 shares during the quarter. HighTower Advisors LLC’s holdings in Celestica were worth $697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC acquired a new position in shares of Celestica in the 4th quarter valued at $385,000. Raymond James Financial Inc. purchased a new position in shares of Celestica during the 4th quarter worth approximately $47,685,000. Schechter Investment Advisors LLC acquired a new stake in shares of Celestica in the 4th quarter valued at approximately $294,000. XTX Topco Ltd acquired a new position in Celestica during the third quarter worth about $1,580,000. Finally, Fruth Investment Management purchased a new position in Celestica in the 4th quarter valued at approximately $286,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Price Performance

Shares of NYSE:CLS opened at $82.56 on Friday. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of 22.07 and a beta of 2.21. The business has a fifty day simple moving average of $108.09 and a 200 day simple moving average of $87.76. Celestica Inc. has a 1 year low of $40.25 and a 1 year high of $144.27. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Insider Activity at Celestica

In other news, President Todd C. Cooper sold 91,490 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $122.28, for a total transaction of $11,187,397.20. Following the completion of the transaction, the president now owns 175,426 shares of the company’s stock, valued at approximately $21,451,091.28. This represents a 34.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Mionis sold 52,588 shares of Celestica stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $6,707,073.52. Following the sale, the chief executive officer now directly owns 531,417 shares in the company, valued at approximately $67,776,924.18. This trade represents a 9.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 959,381 shares of company stock valued at $119,142,019. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Stifel Nicolaus lifted their price objective on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Royal Bank of Canada raised their target price on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Barclays increased their price target on shares of Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, 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 note on Friday, December 20th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.83.

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.