Elite Wealth Management Inc. Reduces Holdings in Celestica, Inc. (NYSE:CLS)

Elite Wealth Management Inc. decreased its holdings in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 52.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,892 shares of the technology company's stock after selling 97,809 shares during the quarter. Celestica comprises approximately 0.9% of Elite Wealth Management Inc.'s investment portfolio, making the stock its 9th biggest holding. Elite Wealth Management Inc. owned about 0.08% of Celestica worth $6,927,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC raised its position in shares of Celestica by 91.2% in the 4th quarter. FMR LLC now owns 11,688,700 shares of the technology company's stock valued at $1,078,804,000 after acquiring an additional 5,574,342 shares during the period. FIL Ltd raised its holdings in Celestica by 5,976.1% in the fourth quarter. FIL Ltd now owns 3,463,729 shares of the technology company's stock worth $319,662,000 after purchasing an additional 3,406,723 shares during the period. Norges Bank bought a new position in shares of Celestica during the fourth quarter worth $139,008,000. Polar Capital Holdings Plc boosted its position in shares of Celestica by 822.6% during the fourth quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company's stock worth $148,416,000 after purchasing an additional 1,433,681 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Celestica by 64.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company's stock valued at $329,460,000 after buying an additional 1,401,877 shares during the period. 67.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on CLS. Barclays reaffirmed an "overweight" rating and set a $146.00 price objective (up previously from $126.00) on shares of Celestica in a research note on Tuesday, June 10th. JPMorgan Chase & Co. raised their price target on Celestica from $105.00 to $115.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Argus cut their price objective on Celestica from $150.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Wall Street Zen cut Celestica from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $130.00 price target (up previously from $118.00) on shares of Celestica in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $116.64.

Celestica Stock Up 0.7%

Celestica stock traded up $1.08 during mid-day trading on Monday, reaching $162.11. The company's stock had a trading volume of 1,910,429 shares, compared to its average volume of 4,430,597. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.43. Celestica, Inc. has a 12 month low of $40.25 and a 12 month high of $163.95. The business's 50 day simple moving average is $127.70 and its 200 day simple moving average is $108.98. The company has a market capitalization of $18.64 billion, a price-to-earnings ratio of 44.66 and a beta of 1.81.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted its quarterly earnings data on Thursday, April 24th. The technology company reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.10. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.56 billion. Celestica had a net margin of 4.26% and a return on equity of 25.57%. The company's quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 EPS. As a group, research analysts anticipate that Celestica, Inc. will post 4.35 earnings per share for the current year.

Celestica Company 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.