2,194 Celestica, Inc. $CLS Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management reduced its holdings in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 6.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,374 shares of the technology company’s stock after selling 2,194 shares during the quarter. Ritholtz Wealth Management’s holdings in Celestica were worth $12,424,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Wealth Managment LLC ID boosted its holdings in Celestica by 14.4% during the first quarter. Legacy Wealth Managment LLC ID now owns 223 shares of the technology company’s stock worth $63,000 after purchasing an additional 28 shares during the last quarter. Riverbend Wealth Management LLC increased its stake in Celestica by 4.8% in the 3rd quarter. Riverbend Wealth Management LLC now owns 745 shares of the technology company’s stock valued at $269,000 after buying an additional 34 shares during the last quarter. XML Financial LLC lifted its position in Celestica by 1.5% during the 2nd quarter. XML Financial LLC now owns 2,640 shares of the technology company’s stock worth $963,000 after buying an additional 40 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Celestica by 0.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,363 shares of the technology company’s stock worth $1,592,000 after buying an additional 40 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Celestica by 8.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 569 shares of the technology company’s stock worth $160,000 after buying an additional 43 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CLS has been the subject of several analyst reports. Zacks Research upgraded Celestica from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 3rd. Royal Bank Of Canada set a $450.00 target price on Celestica and gave the stock an “outperform” rating in a report on Wednesday, August 26th. The Goldman Sachs Group reissued a “conviction-buy” rating and set a $435.00 price target on shares of Celestica in a research report on Wednesday, October 28th. Canadian Imperial Bank of Commerce raised their price target on Celestica from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Finally, Stifel Nicolaus set a $500.00 price target on Celestica in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $445.14.

Latest Celestica News

Here’s some of the latest news about CLS:

• Positive Sentiment: Celestica is building its defense business with advanced electronics, ruggedized computing, and mission-critical aerospace and military solutions. This could broaden its opportunity set, though the report did not cite specific contract wins. Can CLS Capitalize on Rising Demand for Advanced Defense Technologies?
• Negative Sentiment: Sanford C. Bernstein cut its price target on CLS, a potential near-term headwind. The provided report did not specify the revised target or the rationale for the reduction. Celestica Stock Price Target Cut by Sanford C. Bernstein
• Negative Sentiment: Another analysis said the market is questioning Celestica’s AI growth story, underscoring execution and valuation risks if demand or results fall short of expectations. Celestica: The Market Is Questioning Its AI Growth Story

Insider Activity at Celestica

In related news, President Todd Cooper sold 20,118 shares of the business’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $360.00, for a total transaction of $7,242,480.00. Following the transaction, the president directly owned 73,252 shares of the company’s stock, valued at approximately $26,370,720. The trade was a 21.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Mionis sold 23,396 shares of the stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $364.22, for a total value of $8,521,291.12. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

Celestica Stock Up 8.3%

Shares of CLS stock opened at $242.37 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.03 and a current ratio of 1.61. The firm’s 50-day moving average is $313.28 and its 200-day moving average is $328.12. The stock has a market cap of $30.56 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 1.57 and a beta of 2.10. Celestica, Inc. has a 52-week low of $197.50 and a 52-week high of $474.02.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Monday, October 26th. The technology company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.28. The business had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Celestica had a return on equity of 33.80% and a net margin of 6.83%. Sell-side analysts predict that Celestica, Inc. will post 10.97 EPS for the current year.

About Celestica

Celestica Inc. is a global provider of design, manufacturing, and supply chain services for companies across technology and industrial markets. Its work spans product development, engineering, manufacturing, testing, and ongoing product support. The company’s offerings include hardware and infrastructure used in cloud computing and data centers, communications networks, aerospace and defense, industrial equipment, and health technology. It also provides supply chain management and other services to support products throughout their lifecycle.