Straight Path Wealth Management Boosts Stake in Celestica, Inc. $CLS

Straight Path Wealth Management grew its stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 772.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,500 shares of the technology company’s stock after buying an additional 18,150 shares during the period. Celestica accounts for 1.2% of Straight Path Wealth Management’s investment portfolio, making the stock its 18th biggest position. Straight Path Wealth Management’s holdings in Celestica were worth $5,051,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in CLS. Farther Finance Advisors LLC raised its stake in Celestica by 267.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,498 shares of the technology company’s stock valued at $390,000 after purchasing an additional 1,819 shares during the last quarter. Ballentine Partners LLC acquired a new position in shares of Celestica in the second quarter valued at approximately $328,000. ST Germain D J Co. Inc. acquired a new position in shares of Celestica in the second quarter valued at approximately $37,000. Signaturefd LLC lifted its stake in shares of Celestica by 6.0% during the second quarter. Signaturefd LLC now owns 4,058 shares of the technology company’s stock valued at $633,000 after buying an additional 229 shares during the period. Finally, Global Trust Asset Management LLC boosted its position in Celestica by 22.6% during the second quarter. Global Trust Asset Management LLC now owns 5,086 shares of the technology company’s stock worth $794,000 after acquiring an additional 938 shares during the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Laurette T. Koellner bought 6,000 shares of Celestica stock in a transaction dated Thursday, October 30th. The shares were acquired at an average cost of $341.67 per share, with a total value of $2,050,020.00. Following the completion of the transaction, the director owned 6,000 shares in the company, valued at approximately $2,050,020. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.52% of the stock is owned by corporate insiders.

Celestica Stock Performance

NYSE:CLS opened at $308.04 on Tuesday. Celestica, Inc. has a twelve month low of $58.05 and a twelve month high of $363.40. The firm has a market capitalization of $35.44 billion, a price-to-earnings ratio of 50.01 and a beta of 1.87. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The firm’s fifty day simple moving average is $309.44 and its 200 day simple moving average is $263.74.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.45 by $0.13. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period last year, the company posted $1.04 earnings per share. The firm’s revenue was up 27.8% compared to the same quarter last year. As a group, equities research analysts expect that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. TD Securities set a $305.00 price target on Celestica and gave the stock a “hold” rating in a research note on Wednesday, January 21st. TD Cowen reissued a “hold” rating and issued a $238.00 target price on shares of Celestica in a research report on Friday, October 3rd. Aletheia Capital upped their price target on shares of Celestica from $330.00 to $410.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. UBS Group increased their price target 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. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Celestica in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Celestica currently has a consensus rating of “Moderate Buy” and an average price target of $340.75.

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.