Fortis Capital Advisors LLC Increases Stake in Celestica, Inc. $CLS

Fortis Capital Advisors LLC lifted its holdings in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 240.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,492 shares of the technology company’s stock after purchasing an additional 5,292 shares during the period. Fortis Capital Advisors LLC’s holdings in Celestica were worth $1,846,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Golden State Wealth Management LLC boosted its position in Celestica by 102.5% during the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after buying an additional 83 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Celestica by 42.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after acquiring an additional 37 shares during the last quarter. First Horizon Corp bought a new stake in shares of Celestica in the 3rd quarter valued at about $31,000. ST Germain D J Co. Inc. purchased a new stake in Celestica during the 2nd quarter valued at about $37,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Celestica during the 2nd quarter worth approximately $40,000. 67.38% of the stock is owned by institutional investors.

Insider Transactions at Celestica

In other news, Director Laurette T. Koellner acquired 6,000 shares of the stock in a transaction on Thursday, October 30th. The stock was acquired at an average price of $341.67 per share, with a total value of $2,050,020.00. Following the completion of the transaction, the director owned 6,000 shares of the company’s stock, valued at $2,050,020. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

CLS has been the subject of several recent research reports. The Goldman Sachs Group boosted their price objective on Celestica from $340.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $385.00 target price (up from $230.00) on shares of Celestica in a research note on Wednesday, October 29th. Aletheia Capital upped their price target on shares of Celestica from $330.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Wall Street Zen raised shares of Celestica from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Zacks Research lowered shares of Celestica from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $340.75.

Celestica Stock Performance

Celestica stock opened at $308.04 on Tuesday. Celestica, Inc. has a fifty-two week low of $58.05 and a fifty-two week high of $363.40. The stock’s 50 day simple moving average is $309.44 and its two-hundred day simple moving average is $263.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.47. The stock has a market cap of $35.44 billion, a price-to-earnings ratio of 50.01 and a beta of 1.87.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 30.53% and a net margin of 6.35%.The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.04 EPS. As a group, analysts expect that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Celestica Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.