Celestica, Inc. $CLS Stock Position Raised by Suncoast Equity Management

Suncoast Equity Management lifted its holdings in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 7.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,430 shares of the technology company’s stock after buying an additional 490 shares during the period. Suncoast Equity Management’s holdings in Celestica were worth $1,160,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. First Horizon Advisors Inc. grew its position in shares of Celestica by 33.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 350 shares of the technology company’s stock valued at $55,000 after buying an additional 87 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong grew its position in shares of Celestica by 21.1% during the 2nd quarter. CloudAlpha Capital Management Limited Hong Kong now owns 463,310 shares of the technology company’s stock valued at $72,327,000 after buying an additional 80,670 shares during the last quarter. Axim Planning & Wealth bought a new stake in shares of Celestica during the 2nd quarter valued at about $392,000. Genus Capital Management Inc. grew its position in shares of Celestica by 53.8% during the 2nd quarter. Genus Capital Management Inc. now owns 27,822 shares of the technology company’s stock valued at $4,338,000 after buying an additional 9,730 shares during the last quarter. Finally, Washburn Capital Management Inc. bought a new stake in shares of Celestica during the 2nd quarter valued at about $450,000. Institutional investors own 67.38% of the company’s stock.

Insider Buying and Selling at Celestica

In other Celestica news, Director Laurette T. Koellner bought 6,000 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was acquired at an average cost of $341.67 per share, with a total value of $2,050,020.00. Following the completion of the purchase, the director directly owned 6,000 shares in the company, valued at approximately $2,050,020. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CLS. BMO Capital Markets set a $370.00 target price on shares of Celestica and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. New Street Research set a $400.00 target price on shares of Celestica in a research report on Wednesday, October 29th. Canaccord Genuity Group upped their target price on shares of Celestica from $126.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. BNP Paribas restated an “outperform” rating and issued a $300.00 target price on shares of Celestica in a research report on Thursday, September 25th. Finally, UBS Group upped their target price on shares of Celestica from $208.00 to $350.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Celestica currently has a consensus rating of “Moderate Buy” and a consensus target price of $325.13.

Celestica Trading Up 5.0%

Shares of NYSE:CLS opened at $352.73 on Thursday. The company has a 50 day moving average of $261.70 and a 200-day moving average of $185.27. The firm has a market cap of $40.58 billion, a P/E ratio of 57.26 and a beta of 1.88. Celestica, Inc. has a twelve month low of $58.05 and a twelve month high of $363.40. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.13. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.01 billion. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.04 EPS. As a group, analysts anticipate that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

About Celestica

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.