Private Trust Co. NA Acquires 720 Shares of Celestica Inc. (NYSE:CLS)

Private Trust Co. NA boosted its holdings in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 480.0% during the third quarter, Holdings Channel reports. The fund owned 870 shares of the technology company’s stock after purchasing an additional 720 shares during the period. Private Trust Co. NA’s holdings in Celestica were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CLS. Westover Capital Advisors LLC lifted its stake in shares of Celestica by 20.9% during the 2nd quarter. Westover Capital Advisors LLC now owns 21,776 shares of the technology company’s stock worth $1,248,000 after buying an additional 3,764 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Celestica in the 3rd quarter valued at about $61,210,000. Sigma Planning Corp acquired a new stake in Celestica during the third quarter worth approximately $420,000. Advisors Asset Management Inc. boosted its holdings in shares of Celestica by 61.9% during the third quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock worth $1,682,000 after acquiring an additional 12,584 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Celestica by 40.0% in the third quarter. Van ECK Associates Corp now owns 67,266 shares of the technology company’s stock valued at $3,439,000 after purchasing an additional 19,221 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

CLS has been the subject of several research reports. TD Securities lifted their price target on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Barclays began coverage on shares of Celestica in a research report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 target price for the company. Stifel Nicolaus raised their price target on shares of Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Royal Bank of Canada lifted their price objective on shares of Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, BMO Capital Markets increased their target price on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.45.

Celestica Stock Performance

Shares of NYSE:CLS opened at $85.24 on Friday. Celestica Inc. has a 1 year low of $25.83 and a 1 year high of $93.15. The stock has a market capitalization of $9.92 billion, a price-to-earnings ratio of 27.06 and a beta of 2.24. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The company’s 50 day simple moving average is $68.66 and its 200 day simple moving average is $58.57.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the company posted $0.65 EPS. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, research analysts predict that Celestica Inc. will post 3.44 EPS for the current fiscal year.

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.