Cumberland Partners Ltd Acquires 4,900 Shares of Celestica Inc. (NYSE:CLS)

by · The Markets Daily

Cumberland Partners Ltd boosted its holdings in shares of Celestica Inc. (NYSE:CLS – Free Report) (TSE:CLS) by 83.1% during the third quarter, HoldingsChannel reports. The fund owned 10,800 shares of the technology company’s stock after purchasing an additional 4,900 shares during the quarter. Cumberland Partners Ltd’s holdings in Celestica were worth $553,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Entropy Technologies LP acquired a new stake in Celestica in the third quarter valued at $2,234,000. Nations Financial Group Inc. IA ADV increased its stake in shares of Celestica by 20.5% in the third quarter. Nations Financial Group Inc. IA ADV now owns 15,455 shares of the technology company’s stock valued at $790,000 after buying an additional 2,625 shares during the period. Sigma Planning Corp acquired a new stake in shares of Celestica in the third quarter valued at about $420,000. Covestor Ltd bought a new position in shares of Celestica during the third quarter worth about $204,000. Finally, Forte Capital LLC ADV lifted its stake in shares of Celestica by 1,034.9% in the third quarter. Forte Capital LLC ADV now owns 118,691 shares of the technology company’s stock worth $6,067,000 after acquiring an additional 108,233 shares during the period. Institutional investors own 67.38% of the company’s stock.

Celestica Price Performance

CLS opened at $84.09 on Wednesday. Celestica Inc. has a 1 year low of $25.21 and a 1 year high of $87.99. 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 has a market capitalization of $9.97 billion, a price-to-earnings ratio of 26.70 and a beta of 2.24. The firm’s fifty day moving average price is $58.42 and its two-hundred day moving average price is $55.10.

Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last announced its earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.41 billion. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The company’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 EPS. As a group, analysts anticipate that Celestica Inc. will post 3.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CLS shares. CIBC raised their price target on shares of Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Stifel Nicolaus increased their price target on Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Royal Bank of Canada raised their price objective on shares of Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, TD Securities upped their price target on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Celestica has a consensus rating of “Moderate Buy” and a consensus target price of $69.10.

Check Out Our Latest Stock Analysis on Celestica

Celestica Profile

(Free Report)

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.

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