Celestica, Inc. $CLS Shares Sold by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC cut its stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 50.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,044 shares of the technology company’s stock after selling 20,247 shares during the period. Oliver Luxxe Assets LLC’s holdings in Celestica were worth $4,936,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Avion Wealth purchased a new stake in Celestica during the third quarter worth about $40,000. World Equity Group Inc. increased its holdings in Celestica by 1.7% in the third quarter. World Equity Group Inc. now owns 2,263 shares of the technology company’s stock valued at $558,000 after buying an additional 38 shares in the last quarter. Valmark Advisers Inc. purchased a new position in Celestica in the third quarter valued at about $300,000. Kingswood Wealth Advisors LLC lifted its position in shares of Celestica by 57.3% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 2,720 shares of the technology company’s stock valued at $670,000 after acquiring an additional 991 shares during the period. Finally, Benjamin Edwards Inc. purchased a new stake in shares of Celestica during the 3rd quarter worth approximately $209,000. 67.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Celestica

In other news, Director Laurette T. Koellner bought 6,000 shares of the stock in a transaction on Thursday, October 30th. The stock was purchased at an average cost of $341.67 per share, with a total value of $2,050,020.00. Following the purchase, the director owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CLS. UBS Group lifted their price objective on Celestica from $208.00 to $350.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Zacks Research downgraded Celestica from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $385.00 price objective (up from $230.00) on shares of Celestica in a research report on Wednesday, October 29th. The Goldman Sachs Group increased their price objective on shares of Celestica from $340.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, Citigroup upgraded shares of Celestica from a “neutral” rating to a “buy” rating and raised their target price for the company from $212.00 to $375.00 in a report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $336.13.

Celestica Trading Up 4.7%

Celestica stock opened at $302.03 on Friday. The stock has a market cap of $34.75 billion, a PE ratio of 49.03 and a beta of 1.87. The stock has a 50-day moving average price of $313.60 and a 200 day moving average price of $251.04. Celestica, Inc. has a 52 week low of $58.05 and a 52 week high of $363.40. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

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

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.