Jupiter Asset Management Ltd. Takes $1.37 Million Position in Celestica, Inc. (NYSE:CLS)

Key Points

• Jupiter Asset Management Ltd. has acquired a new position in Celestica, purchasing 17,399 shares valued at approximately $1.37 million during the first quarter of 2023.
• The company has received positive attention from analysts, with price target increases from firms like Barclays and BMO Capital Markets, reflecting a consensus price target of $168.92 and primarily strong buy ratings.
• Celestica's stock recently saw a decline of 2.5% during trading, reaching $196.34, amidst a market cap of $22.58 billion and a PE ratio of 42.50.

Jupiter Asset Management Ltd. purchased a new stake in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS during the first quarter, according to its most recent filing with the SEC. The firm purchased 17,399 shares of the technology company's stock, valued at approximately $1,372,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CLS. Rothschild Investment LLC purchased a new stake in Celestica during the 1st quarter valued at about $26,000. ORG Partners LLC purchased a new stake in Celestica in the first quarter valued at approximately $29,000. Center for Financial Planning Inc. acquired a new position in Celestica in the 1st quarter worth approximately $30,000. Bessemer Group Inc. acquired a new position in Celestica in the 4th quarter worth approximately $42,000. Finally, Farther Finance Advisors LLC raised its position in Celestica by 1,516.7% during the 1st quarter. Farther Finance Advisors LLC now owns 679 shares of the technology company's stock worth $54,000 after buying an additional 637 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CLS shares. Citigroup increased their price objective on shares of Celestica from $172.00 to $212.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price objective on Celestica from $170.00 to $225.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Barclays upped their price objective on Celestica from $146.00 to $220.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. UBS Group restated a "neutral" rating and set a $208.00 price target (up previously from $101.00) on shares of Celestica in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada upped their price objective on shares of Celestica from $185.00 to $225.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Celestica currently has a consensus rating of "Buy" and a consensus target price of $168.92.

Celestica Price Performance

CLS traded up $2.38 during trading on Wednesday, reaching $198.89. The company's stock had a trading volume of 2,941,215 shares, compared to its average volume of 4,156,534. The company has a market cap of $22.87 billion, a price-to-earnings ratio of 43.05 and a beta of 1.80. The firm has a fifty day simple moving average of $150.95 and a two-hundred day simple moving average of $117.91. Celestica, Inc. has a 1 year low of $40.65 and a 1 year high of $214.47. The company has a quick ratio of 0.86, a current ratio of 1.44 and a debt-to-equity ratio of 0.48.

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.