Ritholtz Wealth Management Sells 2,017 Shares of Celestica Inc. (NYSE:CLS)

Ritholtz Wealth Management trimmed its position in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 2.1% during the third quarter, Holdings Channel reports. The institutional investor owned 95,010 shares of the technology company’s stock after selling 2,017 shares during the quarter. Ritholtz Wealth Management’s holdings in Celestica were worth $4,857,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. acquired a new stake in Celestica in the third quarter worth about $34,000. Wolff Wiese Magana LLC boosted its stake in Celestica by 32.1% in the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock valued at $40,000 after acquiring an additional 170 shares during the last quarter. Naples Money Management LLC grew its holdings in Celestica by 90.0% during the 2nd quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock worth $55,000 after acquiring an additional 450 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Celestica during the 2nd quarter valued at $59,000. Finally, Byrne Asset Management LLC lifted its stake in shares of Celestica by 52.8% in the 2nd quarter. Byrne Asset Management LLC now owns 1,910 shares of the technology company’s stock valued at $109,000 after purchasing an additional 660 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Stifel Nicolaus raised Celestica from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Monday, September 9th. StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. CIBC lifted their price objective on shares of Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. TD Securities upped their target price on shares of Celestica from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada lifted their price target on shares of Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $61.88.

Celestica Stock Up 3.0 %

Shares of NYSE:CLS traded up $1.81 during midday trading on Friday, reaching $63.06. 3,898,745 shares of the company were exchanged, compared to its average volume of 2,229,157. The firm has a market cap of $7.48 billion, a PE ratio of 20.67 and a beta of 2.28. The stock has a fifty day simple moving average of $50.21 and a two-hundred day simple moving average of $51.33. Celestica Inc. has a fifty-two week low of $20.87 and a fifty-two week high of $63.85. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.10. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period last year, the company earned $0.55 earnings per share. The firm’s revenue was up 23.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Celestica Inc. will post 3.22 earnings per share for the current year.

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.