Belpointe Asset Management LLC Purchases 5,292 Shares of Celestica, Inc. $CLS

Belpointe Asset Management LLC increased its holdings in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 240.5% during the 3rd quarter, Holdings Channel reports. The firm owned 7,492 shares of the technology company’s stock after buying an additional 5,292 shares during the period. Belpointe Asset Management LLC’s holdings in Celestica were worth $1,846,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CLS. Golden State Wealth Management LLC grew its position in shares of Celestica by 102.5% in the 2nd quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock worth $26,000 after buying an additional 83 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Celestica by 42.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock worth $31,000 after acquiring an additional 37 shares during the period. First Horizon Corp bought a new stake in Celestica in the third quarter valued at $31,000. Twin Peaks Wealth Advisors LLC purchased a new position in Celestica during the 2nd quarter valued at $40,000. Finally, Avion Wealth bought a new position in Celestica in the 3rd quarter worth $40,000. Institutional investors own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CLS shares. Citigroup raised shares of Celestica from a “neutral” rating to a “buy” rating and lifted their target price for the company from $212.00 to $375.00 in a research note on Monday, November 10th. TD Cowen reaffirmed a “hold” rating and set a $238.00 price objective on shares of Celestica in a research report on Friday, October 3rd. Stifel Nicolaus reiterated a “buy” rating and set a $385.00 target price (up previously from $230.00) on shares of Celestica in a report on Wednesday, October 29th. Aletheia Capital raised their target price on Celestica from $330.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Finally, New Street Research set a $400.00 price target on Celestica in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and a consensus target price of $340.75.

Insider Transactions at Celestica

In other news, Director Laurette T. Koellner purchased 6,000 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The shares were bought at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the purchase, the director directly owned 6,000 shares in the company, valued at approximately $2,050,020. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is currently owned by insiders.

Celestica Stock Up 8.1%

CLS stock opened at $333.17 on Wednesday. The business has a 50 day moving average of $310.09 and a 200 day moving average of $264.95. The firm has a market cap of $38.33 billion, a PE ratio of 54.09 and a beta of 1.87. Celestica, Inc. has a twelve month low of $58.05 and a twelve month high of $363.40. The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.37.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.13. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the prior year, the firm posted $1.04 earnings per share. The company’s quarterly revenue was up 27.8% on a year-over-year basis. On average, research analysts forecast that Celestica, Inc. will post 4.35 EPS 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.