Global Trust Asset Management LLC Takes Position in Celestica Inc. (NYSE:CLS)

Global Trust Asset Management LLC purchased a new stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 1,000 shares of the technology company’s stock, valued at approximately $51,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Optimum Investment Advisors increased its position in shares of Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. UMB Bank n.a. bought a new position in shares of Celestica in the third quarter worth approximately $34,000. Wolff Wiese Magana LLC increased its position in shares of Celestica by 32.1% in the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after purchasing an additional 170 shares during the last quarter. Naples Money Management LLC increased its position in shares of Celestica by 90.0% in the second quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock worth $55,000 after purchasing an additional 450 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Celestica in the second quarter worth approximately $59,000. 67.38% of the stock is currently owned by institutional investors.

Celestica Stock Performance

Celestica stock opened at $69.38 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average of $52.42 and a 200-day moving average of $52.27. The firm has a market cap of $8.24 billion, a P/E ratio of 25.89 and a beta of 2.28. Celestica Inc. has a 1-year low of $20.87 and a 1-year high of $70.07.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the business posted $0.65 earnings per share. Celestica’s quarterly revenue was up 24.8% compared to the same quarter last year. Sell-side analysts expect that Celestica Inc. will post 3.22 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CLS shares. BMO Capital Markets upped their price objective on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday. Canaccord Genuity Group upped their price objective on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 26th. CIBC increased their target price on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Royal Bank of Canada boosted their price target on shares of Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Celestica currently has an average rating of “Moderate Buy” and a consensus price target of $66.67.

Celestica 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.