SteelPeak Wealth LLC Trims Stake in Celestica, Inc. $CLS

SteelPeak Wealth LLC cut its stake in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 19.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,245 shares of the technology company’s stock after selling 3,486 shares during the period. SteelPeak Wealth LLC’s holdings in Celestica were worth $3,510,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. XML Financial LLC raised its position in shares of Celestica by 32.9% in the 3rd quarter. XML Financial LLC now owns 2,425 shares of the technology company’s stock worth $597,000 after acquiring an additional 600 shares in the last quarter. Nicholas Wealth LLC. raised its holdings in Celestica by 5.4% in the third quarter. Nicholas Wealth LLC. now owns 10,188 shares of the technology company’s stock worth $2,510,000 after purchasing an additional 526 shares in the last quarter. Merit Financial Group LLC purchased a new position in Celestica during the third quarter valued at $352,000. Calamos Wealth Management LLC bought a new stake in shares of Celestica during the 3rd quarter valued at $3,626,000. Finally, Baron Wealth Management LLC grew its position in shares of Celestica by 7.2% in the 3rd quarter. Baron Wealth Management LLC now owns 1,428 shares of the technology company’s stock worth $352,000 after buying an additional 96 shares during the period. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Stock Down 1.2%

CLS stock opened at $295.88 on Friday. The stock has a market capitalization of $34.04 billion, a P/E ratio of 48.03 and a beta of 1.87. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.88. Celestica, Inc. has a 1-year low of $58.05 and a 1-year high of $363.40. The business has a fifty day moving average price of $316.66 and a 200-day moving average price of $243.40.

Celestica (NYSE:CLS) (TSE:CLS) last issued its 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 business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.01 billion. Celestica had a return on equity of 30.53% and a net margin of 6.35%.Celestica’s revenue was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.04 EPS. Equities analysts forecast that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Celestica

In related news, Director Laurette T. Koellner acquired 6,000 shares of the stock in a transaction that occurred on Thursday, October 30th. The shares were bought at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.52% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. TD Cowen reissued a “hold” rating and set a $238.00 price objective on shares of Celestica in a research note on Friday, October 3rd. JPMorgan Chase & Co. upped their price target on Celestica from $295.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. BMO Capital Markets set a $370.00 price objective on Celestica and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Citigroup raised Celestica from a “neutral” rating to a “buy” rating and increased their target price for the stock from $212.00 to $375.00 in a research note on Monday, November 10th. Finally, BNP Paribas reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Celestica in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $336.13.

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.