Celestica, Inc. $CLS Stock Sold by Ritholtz Wealth Management

Ritholtz Wealth Management cut its stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 6.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,374 shares of the technology company’s stock after selling 2,194 shares during the period. Ritholtz Wealth Management’s holdings in Celestica were worth $12,424,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Cibc World Market Inc. bought a new position in shares of Celestica during the second quarter worth approximately $757,811,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Celestica during the 2nd quarter worth approximately $674,199,000. Royal Bank of Canada boosted its stake in Celestica by 13.8% in the 1st quarter. Royal Bank of Canada now owns 1,283,561 shares of the technology company’s stock valued at $361,553,000 after purchasing an additional 156,040 shares during the period. Bank of America Corp DE bought a new stake in Celestica in the 2nd quarter valued at $444,899,000. Finally, Pictet Asset Management Holding SA grew its holdings in Celestica by 94.4% in the 3rd quarter. Pictet Asset Management Holding SA now owns 1,068,473 shares of the technology company’s stock valued at $386,578,000 after buying an additional 518,798 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

Key Headlines Impacting Celestica

Here are a few of the latest headlines 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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CLS. Stifel Nicolaus set a $500.00 price objective on Celestica in a research report on Tuesday, July 28th. Scotiabank initiated coverage on shares of Celestica in a research report on Tuesday, August 11th. They issued a “sector outperform” rating and a $500.00 target price for the company. Wolfe Research upped their price target on shares of Celestica from $425.00 to $475.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Wall Street Zen raised shares of Celestica from a “hold” rating to a “buy” rating in a research report on Saturday, November 7th. Finally, TD set a $430.00 price objective on shares of Celestica and gave the stock a “buy” rating in a research note on Wednesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $445.14.

Celestica Price Performance

Shares of NYSE CLS opened at $242.37 on Thursday. The stock has a market capitalization of $30.56 billion, a PE ratio of 22.93, a P/E/G ratio of 1.57 and a beta of 2.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.61 and a quick ratio of 1.03. The business has a fifty day moving average price of $313.28 and a two-hundred day moving average price of $328.12. Celestica, Inc. has a fifty-two week low of $197.50 and a fifty-two week high of $474.02.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Monday, October 26th. The technology company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.28. Celestica had a return on equity of 33.80% and a net margin of 6.83%. The company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.39 billion. As a group, equities analysts predict that Celestica, Inc. will post 10.97 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Robert Mionis sold 23,396 shares of the company’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $364.22, for a total transaction of $8,521,291.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Todd Cooper sold 20,118 shares of the stock in a transaction dated 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 sale, the president owned 73,252 shares in the company, valued at $26,370,720. The trade was a 21.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company’s stock.

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.