Truvestments Capital LLC Boosts Holdings in Celestica Inc. (NYSE:CLS)

Truvestments Capital LLC raised its position in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 9.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,047 shares of the technology company’s stock after purchasing an additional 1,792 shares during the period. Truvestments Capital LLC’s holdings in Celestica were worth $1,025,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Optimum Investment Advisors boosted its stake in Celestica by 66.7% during the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after buying an additional 200 shares during the period. Financial Management Professionals Inc. bought a new stake in shares of Celestica during the 3rd quarter valued at about $30,000. UMB Bank n.a. purchased a new position in shares of Celestica during the third quarter worth about $34,000. Wolff Wiese Magana LLC increased its position in shares of Celestica by 32.1% in the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after purchasing an additional 170 shares during the last quarter. Finally, Global Trust Asset Management LLC purchased a new stake in Celestica in the third quarter valued at approximately $51,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Celestica Stock Performance

Shares of NYSE CLS opened at $89.80 on Monday. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. Celestica Inc. has a 12-month low of $25.83 and a 12-month high of $93.15. The firm has a market capitalization of $10.45 billion, a price-to-earnings ratio of 28.30 and a beta of 2.24. The firm has a 50 day moving average of $64.95 and a 200 day moving average of $57.29.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.41 billion. During the same quarter in the previous year, the firm posted $0.65 EPS. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, research analysts anticipate that Celestica Inc. will post 3.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. BMO Capital Markets increased their price target on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. UBS Group began coverage on Celestica in a research note on Friday. They issued a “neutral” rating and a $95.00 target price on the stock. Barclays started coverage on Celestica in a research note on Tuesday, November 5th. They set an “overweight” rating and a $91.00 price target for the company. TD Cowen increased 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. Finally, StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and an average target price of $71.45.

Celestica 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.