Ritholtz Wealth Management Decreases Position in Celestica Inc. (NYSE:CLS)

Ritholtz Wealth Management decreased its position in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 8.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,599 shares of the technology company's stock after selling 7,351 shares during the period. Ritholtz Wealth Management owned 0.07% of Celestica worth $6,273,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its position in Celestica by 91.2% during the fourth quarter. FMR LLC now owns 11,688,700 shares of the technology company's stock worth $1,078,804,000 after buying an additional 5,574,342 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Celestica by 64.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company's stock worth $329,460,000 after buying an additional 1,401,877 shares during the period. FIL Ltd increased its position in Celestica by 5,976.1% during the fourth quarter. FIL Ltd now owns 3,463,729 shares of the technology company's stock worth $319,662,000 after buying an additional 3,406,723 shares during the period. Invesco Ltd. increased its position in Celestica by 20.2% during the fourth quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company's stock worth $271,622,000 after buying an additional 494,542 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Celestica by 49.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,173,318 shares of the technology company's stock worth $200,601,000 after buying an additional 719,805 shares during the period. Institutional investors and hedge funds own 67.38% of the company's stock.

Celestica Price Performance

Shares of Celestica stock traded down $5.55 during trading on Friday, reaching $125.18. The company's stock had a trading volume of 2,716,202 shares, compared to its average volume of 3,304,142. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Celestica Inc. has a 12-month low of $40.25 and a 12-month high of $144.27. The company has a market capitalization of $14.47 billion, a P/E ratio of 33.47 and a beta of 1.74. The business has a 50 day moving average price of $101.77 and a 200-day moving average price of $101.09.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.10. Celestica had a return on equity of 23.34% and a net margin of 4.61%. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the business earned $0.83 earnings per share. The company's revenue for the quarter was up 19.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Celestica Inc. will post 4.35 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on CLS. Royal Bank of Canada reaffirmed an "outperform" rating and set a $120.00 price target on shares of Celestica in a research report on Monday, April 28th. Barclays reissued an "overweight" rating and issued a $146.00 target price (up previously from $126.00) on shares of Celestica in a report on Tuesday. BMO Capital Markets reissued an "outperform" rating and issued a $130.00 target price (up previously from $118.00) on shares of Celestica in a report on Thursday, May 22nd. BNP Paribas raised Celestica to a "strong-buy" rating in a report on Wednesday. Finally, Argus dropped their target price on Celestica from $150.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Celestica currently has an average rating of "Buy" and an average price target of $116.64.

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.