Rockland Trust Co. Cuts Position in Celestica, Inc. $CLS

Rockland Trust Co. decreased its position in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 50.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,312 shares of the technology company’s stock after selling 2,312 shares during the period. Rockland Trust Co.’s holdings in Celestica were worth $683,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CLS. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Celestica by 42.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after buying an additional 37 shares in the last quarter. First Horizon Corp purchased a new stake in Celestica in the third quarter worth approximately $31,000. Twin Peaks Wealth Advisors LLC bought a new position in Celestica during the second quarter valued at approximately $40,000. Avion Wealth bought a new position in Celestica during the third quarter valued at approximately $40,000. Finally, Fifth Third Bancorp raised its stake in shares of Celestica by 48.7% during the third quarter. Fifth Third Bancorp now owns 171 shares of the technology company’s stock worth $42,000 after acquiring an additional 56 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

Insider Buying and Selling at Celestica

In other Celestica news, insider Yann L. Etienvre sold 1,145 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total value of $324,618.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Todd C. Cooper sold 1,065 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total transaction of $301,938.15. Following the completion of the transaction, the president owned 108,970 shares in the company, valued at $30,894,084.70. The trade was a 0.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 297,923 shares of company stock valued at $88,027,459 in the last quarter. Company insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CLS. Canadian Imperial Bank of Commerce lowered their price objective on shares of Celestica from $400.00 to $360.00 and set an “outperform” rating for the company in a report on Wednesday, March 11th. Canaccord Genuity Group lifted their target price on shares of Celestica from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Aletheia Capital boosted their price target on shares of Celestica from $330.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. BMO Capital Markets restated an “outperform” rating on shares of Celestica in a research report on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Celestica in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $355.39.

Celestica Stock Up 2.5%

Shares of Celestica stock opened at $288.64 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 1.44. Celestica, Inc. has a 52-week low of $58.05 and a 52-week high of $363.40. The company’s 50 day moving average price is $285.44 and its 200-day moving average price is $292.33. The stock has a market capitalization of $33.18 billion, a price-to-earnings ratio of 40.20 and a beta of 1.88.

About Celestica

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.