Thoroughbred Financial Services LLC Reduces Position in Celestica, Inc. $CLS

Thoroughbred Financial Services LLC decreased its holdings in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 7.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,505 shares of the technology company’s stock after selling 4,910 shares during the period. Thoroughbred Financial Services LLC owned approximately 0.05% of Celestica worth $9,289,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CLS. Golden State Wealth Management LLC grew its position in shares of Celestica by 102.5% in the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after purchasing an additional 83 shares in the last quarter. ST Germain D J Co. Inc. acquired a new position in Celestica during the second quarter worth $37,000. First Horizon Advisors Inc. grew its holdings in Celestica by 33.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 350 shares of the technology company’s stock valued at $55,000 after buying an additional 87 shares in the last quarter. Wolff Wiese Magana LLC increased its stake in shares of Celestica by 45.6% in the 2nd quarter. Wolff Wiese Magana LLC now owns 364 shares of the technology company’s stock worth $57,000 after acquiring an additional 114 shares during the last quarter. Finally, Flaharty Asset Management LLC purchased a new position in shares of Celestica during the 1st quarter worth $63,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CLS. Citigroup upgraded shares of Celestica from a “neutral” rating to a “buy” rating and boosted their target price for the company from $212.00 to $375.00 in a report on Monday, November 10th. Barclays lifted their price target on shares of Celestica from $357.00 to $359.00 and gave the company an “overweight” rating in a research report on Friday. TD Cowen reiterated a “hold” rating and issued a $238.00 price objective on shares of Celestica in a research report on Friday, October 3rd. TD Securities lifted their target price on Celestica from $238.00 to $305.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $385.00 price target (up previously from $230.00) on shares of Celestica in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $336.13.

Celestica Stock Performance

Shares of Celestica stock opened at $309.17 on Friday. The stock has a market capitalization of $35.56 billion, a price-to-earnings ratio of 50.19 and a beta of 1.85. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.86. The business has a 50-day moving average of $277.62 and a 200 day moving average of $196.17. Celestica, Inc. has a 12 month low of $58.05 and a 12 month high of $363.40.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.45 by $0.13. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The firm’s revenue was up 27.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.04 EPS. As a group, sell-side analysts forecast that Celestica, Inc. will post 4.35 earnings per share for the current year.

Insider Buying and Selling at Celestica

In other news, Director Laurette T. Koellner acquired 6,000 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were bought at an average cost of $341.67 per share, with a total value of $2,050,020.00. Following the transaction, the director owned 6,000 shares in the company, valued at approximately $2,050,020. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.52% of the company’s stock.

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.