Barrier Capital Management LLC Takes $5.79 Million Position in Celestica, Inc. $CLS

Barrier Capital Management LLC acquired a new position in Celestica, Inc. (NYSE:CLS) (TSE:CLS) in the second quarter, Holdings Channel reports. The firm acquired 37,073 shares of the technology company’s stock, valued at approximately $5,787,000. Celestica accounts for 4.0% of Barrier Capital Management LLC’s portfolio, making the stock its 10th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. boosted its position in shares of Celestica by 75.1% in the first quarter. Atria Wealth Solutions Inc. now owns 4,075 shares of the technology company’s stock worth $321,000 after buying an additional 1,748 shares during the period. Vanguard Group Inc. raised its position in Celestica by 0.8% during the first quarter. Vanguard Group Inc. now owns 4,514,605 shares of the technology company’s stock valued at $356,135,000 after buying an additional 35,690 shares during the period. Deutsche Bank AG lifted its stake in Celestica by 616.4% in the 1st quarter. Deutsche Bank AG now owns 153,602 shares of the technology company’s stock worth $12,105,000 after acquiring an additional 132,160 shares in the last quarter. Nuveen LLC acquired a new stake in Celestica during the 1st quarter worth about $6,443,000. Finally, HighTower Advisors LLC boosted its position in Celestica by 14.5% during the 1st quarter. HighTower Advisors LLC now owns 8,645 shares of the technology company’s stock worth $681,000 after acquiring an additional 1,098 shares during the period. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Celestica Stock Performance

Shares of NYSE CLS opened at $306.71 on Friday. The business’s 50-day simple moving average is $306.74 and its 200-day simple moving average is $226.31. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.47. Celestica, Inc. has a 52 week low of $58.05 and a 52 week high of $363.40. The firm has a market cap of $35.27 billion, a price-to-earnings ratio of 49.79 and a beta of 1.83.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.13. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the prior year, the business earned $1.04 earnings per share. The company’s revenue was up 27.8% on a year-over-year basis. As a group, equities research analysts expect that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Laurette T. Koellner bought 6,000 shares of the stock in a transaction that occurred on Thursday, October 30th. The shares were acquired at an average cost of $341.67 per share, for a total transaction of $2,050,020.00. Following the purchase, the director owned 6,000 shares of the company’s stock, valued at $2,050,020. This represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CLS shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Celestica in a report on Wednesday, October 8th. TD Securities boosted their price objective on shares of Celestica from $238.00 to $305.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. New Street Research set a $400.00 price objective on shares of Celestica in a research note on Wednesday, October 29th. UBS Group lifted their target price 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. Finally, Stifel Nicolaus restated a “buy” rating and set a $385.00 price target (up from $230.00) on shares of Celestica in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $336.13.

Celestica Company Profile

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.