Hsbc Holdings PLC Reduces Stock Holdings in Celestica Inc. (NYSE:CLS)

Hsbc Holdings PLC lessened its stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 79.3% in the fourth quarter, Holdings Channel reports. The fund owned 3,145 shares of the technology company’s stock after selling 12,072 shares during the quarter. Hsbc Holdings PLC’s holdings in Celestica were worth $290,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Barclays PLC boosted its stake in shares of Celestica by 151.3% in the third quarter. Barclays PLC now owns 51,848 shares of the technology company’s stock valued at $2,651,000 after purchasing an additional 31,219 shares during the period. Franklin Resources Inc. grew its stake in shares of Celestica by 21.1% during the third quarter. Franklin Resources Inc. now owns 276,788 shares of the technology company’s stock valued at $14,149,000 after acquiring an additional 48,251 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Celestica during the fourth quarter worth about $184,000. SeaCrest Wealth Management LLC acquired a new position in shares of Celestica in the fourth quarter worth about $946,000. Finally, Wolff Wiese Magana LLC boosted its holdings in Celestica by 47.7% in the fourth quarter. Wolff Wiese Magana LLC now owns 1,100 shares of the technology company’s stock valued at $102,000 after purchasing an additional 355 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Trading Down 3.4 %

NYSE:CLS opened at $93.03 on Friday. The firm has a market capitalization of $10.79 billion, a P/E ratio of 24.87 and a beta of 1.65. The business has a 50 day simple moving average of $85.52 and a 200 day simple moving average of $94.27. 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 Inc. has a 12-month low of $40.25 and a 12-month high of $144.27.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.10 by $0.10. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.56 billion. Celestica had a net margin of 4.61% and a return on equity of 23.34%. The company’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Equities research analysts predict that Celestica Inc. will post 4.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CLS. Stifel Nicolaus upped their target price on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. increased their price objective on shares of Celestica from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. CIBC dropped their target price on shares of Celestica from $150.00 to $120.00 and set an “outperformer” rating for the company in a research report on Tuesday, April 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $120.00 price target on shares of Celestica in a research report on Monday, April 28th. Finally, Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $105.42.

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.