Prudential Financial Inc. Raises Stock Holdings in Celestica, Inc. $CLS

by · The Markets Daily

Prudential Financial Inc. increased its stake in Celestica, Inc. (NYSE:CLS – Free Report) (TSE:CLS) by 9.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,214 shares of the technology company’s stock after purchasing an additional 2,442 shares during the period. Prudential Financial Inc.’s holdings in Celestica were worth $4,243,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CLS. Golden State Wealth Management LLC grew its stake in 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 in the last quarter. ST Germain D J Co. Inc. bought a new position in Celestica in the second quarter valued at $37,000. First Horizon Advisors Inc. raised its position in Celestica by 33.1% during the second quarter. First Horizon Advisors Inc. now owns 350 shares of the technology company’s stock valued at $55,000 after purchasing an additional 87 shares in the last quarter. Wolff Wiese Magana LLC lifted its stake in Celestica by 45.6% during the second quarter. Wolff Wiese Magana LLC now owns 364 shares of the technology company’s stock worth $57,000 after purchasing an additional 114 shares during the last quarter. Finally, Rothschild Investment LLC boosted its holdings in shares of Celestica by 20.0% in the 2nd quarter. Rothschild Investment LLC now owns 390 shares of the technology company’s stock worth $61,000 after purchasing an additional 65 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on CLS. New Street Research set a $400.00 price objective on Celestica in a report on Wednesday, October 29th. UBS Group increased their price target on shares of Celestica from $208.00 to $350.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Celestica in a research note on Wednesday, October 8th. Citigroup raised shares of Celestica from a “neutral” rating to a “buy” rating and upped their price objective for the company from $212.00 to $375.00 in a research note on Monday, November 10th. Finally, Stifel Nicolaus reaffirmed 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. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $336.13.

Read Our Latest Stock Report on CLS

Celestica Stock Performance

NYSE:CLS opened at $317.63 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.47. Celestica, Inc. has a fifty-two week low of $58.05 and a fifty-two week high of $363.40. The firm has a market cap of $36.53 billion, a PE ratio of 51.56 and a beta of 1.85. The business has a 50 day moving average price of $292.04 and a 200-day moving average price of $214.41.

Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last issued its earnings results on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.45 by $0.13. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.01 billion. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.04 earnings per share. Equities research analysts predict that Celestica, Inc. will post 4.35 earnings per share for the current year.

Insider Buying and Selling at Celestica

In other Celestica news, Director Laurette T. Koellner bought 6,000 shares of the business’s stock in a transaction that occurred 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 completion of the purchase, the director directly owned 6,000 shares of the company’s stock, valued at $2,050,020. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.52% of the company’s stock.

Celestica Company 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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