Ritholtz Wealth Management Sells 8,231 Shares of Celestica, Inc. $CLS

Ritholtz Wealth Management trimmed its position in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 15.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 46,014 shares of the technology company’s stock after selling 8,231 shares during the period. Ritholtz Wealth Management’s holdings in Celestica were worth $11,337,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC lifted its stake in Celestica by 102.5% in the 2nd quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock worth $26,000 after purchasing an additional 83 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Celestica by 42.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock worth $31,000 after buying an additional 37 shares in the last quarter. First Horizon Corp bought a new stake in Celestica during the third quarter valued at $31,000. ST Germain D J Co. Inc. bought a new stake in Celestica during the second quarter valued at $37,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in Celestica during the second quarter worth about $40,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Insider Activity at Celestica

In related news, Director Laurette T. Koellner purchased 6,000 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The shares were acquired at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the completion of the acquisition, the director directly owned 6,000 shares in the company, valued at approximately $2,050,020. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Celestica in a research report on Wednesday, October 8th. Zacks Research cut shares of Celestica from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. BNP Paribas reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Celestica in a report on Thursday, September 25th. Citigroup upgraded shares of Celestica from a “neutral” rating to a “buy” rating and upped their target price for the stock from $212.00 to $375.00 in a research report on Monday, November 10th. Finally, Barclays raised their price target on Celestica from $357.00 to $359.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and a consensus target price of $336.13.

Celestica Stock Performance

Shares of CLS stock opened at $313.18 on Friday. The company has a market capitalization of $36.03 billion, a P/E ratio of 50.84 and a beta of 1.87. Celestica, Inc. has a fifty-two week low of $58.05 and a fifty-two week high of $363.40. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.47. The stock has a 50 day moving average price of $311.32 and a two-hundred day moving average price of $254.94.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, beating 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 firm’s revenue 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. Analysts expect that Celestica, Inc. will post 4.35 earnings per share for the current year.

Celestica Profile

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.