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

Global Trust Asset Management LLC grew its position in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 195.0% during the fourth quarter, Holdings Channel reports. The fund owned 2,950 shares of the technology company’s stock after purchasing an additional 1,950 shares during the period. Global Trust Asset Management LLC’s holdings in Celestica were worth $272,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Optimum Investment Advisors grew its stake in 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 period. Truist Financial Corp boosted its holdings in shares of Celestica by 2.0% during the 2nd quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock valued at $631,000 after buying an additional 214 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Celestica by 26.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock valued at $67,000 after buying an additional 275 shares in the last quarter. UMB Bank n.a. grew its position in shares of Celestica by 43.6% in the 4th quarter. UMB Bank n.a. now owns 949 shares of the technology company’s stock worth $88,000 after buying an additional 288 shares during the period. Finally, Pier Capital LLC increased its stake in shares of Celestica by 0.4% in the 3rd quarter. Pier Capital LLC now owns 93,055 shares of the technology company’s stock worth $4,757,000 after acquiring an additional 335 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

Celestica Price Performance

NYSE CLS opened at $118.22 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The company has a market capitalization of $13.76 billion, a price-to-earnings ratio of 37.53 and a beta of 2.25. The stock has a 50-day moving average of $93.72 and a 200 day moving average of $69.06. Celestica Inc. has a one year low of $30.40 and a one year high of $119.77.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the company earned $0.65 earnings per share. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. On average, sell-side analysts forecast that Celestica Inc. will post 3.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. BMO Capital Markets boosted their price objective on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. UBS Group started coverage on Celestica in a research report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target on the stock. TD Securities raised their price objective on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Royal Bank of Canada boosted their target price on Celestica from $75.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Finally, Stifel Nicolaus raised their price target on Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.45.

Insiders Place Their Bets

In other Celestica news, Director Michael Wilson sold 25,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $98.73, for a total value of $2,468,250.00. Following the transaction, the director now owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by insiders.

About Celestica

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.