Truist Financial Corp Acquires 1,700 Shares of Celestica, Inc. $CLS

Truist Financial Corp raised its holdings in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 13.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,261 shares of the technology company’s stock after purchasing an additional 1,700 shares during the period. Truist Financial Corp’s holdings in Celestica were worth $3,514,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC raised its holdings in Celestica by 102.5% during the 2nd quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after acquiring an additional 83 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings 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 acquiring an additional 37 shares during the period. First Horizon Corp purchased a new position in shares of Celestica in the third quarter valued at $31,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Celestica during the 2nd quarter valued at $40,000. Finally, Avion Wealth purchased a new stake in Celestica during the 3rd quarter worth about $40,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CLS shares. Canaccord Genuity Group lifted their target price on Celestica from $400.00 to $430.00 and gave the company a “buy” rating in a report on Monday. UBS Group boosted their price objective on shares of Celestica from $208.00 to $350.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. BMO Capital Markets reiterated an “outperform” rating on shares of Celestica in a research note on Monday, January 26th. CIBC boosted their price target on shares of Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Finally, Wall Street Zen upgraded Celestica from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Fifteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and a consensus target price of $356.59.

Celestica Stock Performance

Celestica stock opened at $294.91 on Friday. 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 market cap of $33.93 billion, a P/E ratio of 41.07 and a beta of 1.86. The firm’s fifty day moving average price is $307.87 and its 200-day moving average price is $270.11.

Insider Transactions at Celestica

In related news, insider Yann L. Etienvre sold 86,229 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $287.45, for a total transaction of $24,786,526.05. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Todd C. Cooper sold 89,484 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $287.45, for a total value of $25,722,175.80. Following the completion of the sale, the president owned 108,970 shares of the company’s stock, valued at $31,323,426.50. The trade was a 45.09% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.52% of the company’s stock.

Celestica Company 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.