Economy

Bank of Montreal Can Takes Position in Celestica Inc. (CLS)

Shell Asset Management Co. lifted its position in shares of Celestica, Inc. Next quarter's EPS is forecasted to be $0.28 and the next full year EPS is anticipated to be $1.28. The business is expected to announce its next quarterly earnings report on Thursday, January 25th. It now has negative earnings. Foundry Partners LLC purchased a new position in shares of Celestica during the second quarter worth about $4,380,000. TD Securities maintained the shares of CLS in report on Monday, January 23 with "Hold" rating. BMO Capital Markets reaffirmed a "hold" rating on shares of Celestica in a research note on Friday. Furthermore on 11/18/16 Standpoint Research "Downgrades" the stock to Hold at $0. They noted that the move was a valuation call. Scotiabank set a $15.00 price target on shares of Celestica and gave the company a "sector perform" rating in a research note on Wednesday, July 26th. Royal Bank Of Canada cut their target price on shares of Celestica from $15.00 to $13.00 and set a "sector perform" rating on the stock in a research note on Friday, October 27th.

On August 17 the company was set at "Buy" in a report from Standpoint Research which is up from the previous "Hold" rating. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. The stock now has a consensus rating of "Hold" and a consensus target price of $13.93.

Shares are trading at $10.07 much lower than $12.28, the stock's 50 day moving average and quite a bit below the 200 day moving average of $12.94. 926,569 shares of the stock were exchanged. Stocks with a beta lower than the market are less risky while those with a higher beta are more risky than the market.

Celestica Inc (NYSE:CLS)'s trailing twelve month revenues are $6.21 Billion, whereas its price to sales ratio for the same period is 0.25. AJO LP now owns 1,251,449 shares of the technology company's stock valued at $16,995,000 after purchasing an additional 585,089 shares during the last quarter. With short interest at 210,653 and short average daily volume at 185,821, days to cover is 1.0 and the percentage of shorted shares was 0.00% on October 13. The institutional investor purchased 203,882 shares of the company's stock, valued at approximately $1,896,000. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

TRADEMARK VIOLATION WARNING: This article was first reported by Week Herald and is the property of of Week Herald. If you are reading this news story on another site, it was illegally copied and reposted in violation of United States and worldwide copyright and trademark laws. The legal version of this news story can be viewed at https://stocknewstimes.com/2017/11/03/celestica-inc-cls-stake-raised-by-shell-asset-management-co.html. Goldman Sachs Group Inc. boosted its position in Celestica by 101.2% during the first quarter. The fund owned 2,131,419 shares of the technology company's stock after selling 78,800 shares during the period. Dynamic Technology Lab Private Ltd increased its position in shares of Celestica by 5.6% during the second quarter. State of Tennessee Treasury Department acquired a new stake in shares of Celestica during the second quarter worth $217,000. UBS Group AG now owns 194,242 shares of the company's stock worth $2,133,000 after buying an additional 66,121 shares during the last quarter. The value of the total investment in Celestica, Inc. decreased from $646,000 to $612,000 decreasing 5.3% quarter to quarter. This repurchase authorization permits the technology company to purchase shares of its stock through open market purchases.

Investors are feeling more bearish on shares of Celestica, Inc. recently as implied by the change in short interest. The Company operates in electronics manufacturing services business segment.



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