Kendall Capital Management Sells 5,570 Shares of Celestica Inc. (NYSE:CLS)

Kendall Capital Management decreased its holdings in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 12.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 37,970 shares of the technology company’s stock after selling 5,570 shares during the quarter. Celestica makes up about 1.0% of Kendall Capital Management’s portfolio, making the stock its 26th largest position. Kendall Capital Management’s holdings in Celestica were worth $3,505,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Whale Rock Capital Management LLC boosted its stake in Celestica by 13.0% during the 3rd 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. acquired a new position in Celestica in the 3rd quarter valued at approximately $61,210,000. Point72 Asset Management L.P. raised its holdings in Celestica by 38.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock valued at $55,451,000 after acquiring an additional 301,563 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in Celestica by 25.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 536,249 shares of the technology company’s stock valued at $27,413,000 after acquiring an additional 109,972 shares in the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd raised its holdings in Celestica by 53.8% in the 3rd quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock valued at $26,799,000 after acquiring an additional 183,300 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CLS. JPMorgan Chase & Co. began coverage on Celestica in a report on Friday, February 21st. They issued an “overweight” rating and a $166.00 price target for the company. Stifel Nicolaus upped their price target on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Royal Bank of Canada upped their price target on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 31st. CIBC raised Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price for the company in a report on Friday, January 31st. Finally, TD Securities increased their target price on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Stock Up 7.2 %

NYSE CLS opened at $87.48 on Friday. The firm has a market cap of $10.18 billion, a PE ratio of 23.39 and a beta of 2.21. Celestica Inc. has a one year low of $40.25 and a one year high of $144.27. The stock’s 50 day simple moving average is $111.23 and its 200 day simple moving average is $83.51. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

Insider Buying and Selling

In other Celestica news, insider Yann L. Etienvre sold 9,181 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,170,944.74. Following the transaction, the insider now directly owns 83,179 shares in the company, valued at approximately $10,608,649.66. This trade represents a 9.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert Mionis sold 75,000 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total value of $10,596,750.00. Following the completion of the transaction, the chief executive officer now owns 456,417 shares in the company, valued at $64,487,157.93. The trade was a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 959,381 shares of company stock worth $119,142,019 in the last three months. Insiders own 1.00% of the company’s stock.

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.