Rockland Trust Co. Acquires Shares of 4,624 Celestica, Inc. $CLS

Rockland Trust Co. bought a new position in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) during the third quarter, Holdings Channel.com reports. The firm bought 4,624 shares of the technology company’s stock, valued at approximately $1,138,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted its position in shares of Celestica by 42.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after purchasing an additional 37 shares in the last quarter. First Horizon Corp purchased a new position in Celestica during the third quarter valued at $31,000. Golden State Wealth Management LLC boosted its holdings in shares of 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 buying an additional 83 shares in the last quarter. Avion Wealth bought a new stake in shares of Celestica during the 3rd quarter valued at $40,000. Finally, LRI Investments LLC bought a new position in shares of Celestica in the 3rd quarter worth about $44,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Insiders Place Their Bets

In other news, President Todd C. Cooper sold 1,065 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Jason Phillips sold 100,000 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $308.92, for a total value of $30,892,000.00. Following the transaction, the president directly owned 12,584 shares in the company, valued at approximately $3,887,449.28. The trade was a 88.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 297,923 shares of company stock valued at $88,027,459. Corporate insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. UBS Group boosted their price objective on shares of Celestica from $208.00 to $350.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Canaccord Genuity Group lifted their target price on shares of Celestica from $400.00 to $430.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Bank of America initiated coverage on Celestica in a research report on Wednesday, January 28th. They issued a “buy” rating and a $400.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on Celestica from $295.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, TD Securities lifted their price objective on Celestica from $305.00 to $330.00 and gave the company a “hold” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Celestica presently has an average rating of “Moderate Buy” and a consensus price target of $356.59.

Celestica Price Performance

Shares of NYSE CLS opened at $297.79 on Wednesday. Celestica, Inc. has a twelve month low of $58.05 and a twelve month high of $363.40. The firm has a market cap of $34.26 billion, a P/E ratio of 41.47 and a beta of 1.86. The company has a 50 day moving average of $307.04 and a 200 day moving average of $274.63. The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.37.

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.