Suncoast Equity Management Invests $547,000 in Celestica, Inc. (NYSE:CLS)

Suncoast Equity Management acquired a new position in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,940 shares of the technology company's stock, valued at approximately $547,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CLS. Independent Advisor Alliance increased its stake in Celestica by 0.3% in the fourth quarter. Independent Advisor Alliance now owns 29,588 shares of the technology company's stock valued at $2,731,000 after acquiring an additional 79 shares during the period. Jones Financial Companies Lllp increased its stake in Celestica by 4.6% in the fourth quarter. Jones Financial Companies Lllp now owns 2,034 shares of the technology company's stock valued at $188,000 after acquiring an additional 89 shares during the period. CoreCap Advisors LLC increased its stake in Celestica by 5.4% in the fourth quarter. CoreCap Advisors LLC now owns 1,760 shares of the technology company's stock valued at $162,000 after acquiring an additional 90 shares during the period. Pinpoint Asset Management Ltd increased its stake in Celestica by 109.6% in the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock valued at $32,000 after acquiring an additional 182 shares during the period. Finally, Bay Rivers Group increased its stake in Celestica by 1.1% in the first quarter. Bay Rivers Group now owns 19,494 shares of the technology company's stock valued at $1,536,000 after acquiring an additional 215 shares during the period. Institutional investors own 67.38% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CLS. Barclays reissued an "overweight" rating and issued a $146.00 target price (up previously from $126.00) on shares of Celestica in a research note on Tuesday, June 10th. Argus reduced their price target on shares of Celestica from $150.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Royal Bank Of Canada restated an "outperform" rating and issued a $120.00 price target on shares of Celestica in a research report on Monday, April 28th. BMO Capital Markets restated an "outperform" rating and issued a $130.00 price target (up from $118.00) on shares of Celestica in a research report on Thursday, May 22nd. Finally, Wall Street Zen lowered shares of Celestica from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Two equities research 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 stock. Based on data from MarketBeat.com, Celestica presently has a consensus rating of "Buy" and a consensus price target of $116.64.

Celestica Price Performance

Shares of CLS stock opened at $135.27 on Friday. Celestica, Inc. has a 1 year low of $40.25 and a 1 year high of $144.27. The firm's 50 day moving average is $107.37 and its 200-day moving average is $102.64. The firm has a market capitalization of $15.55 billion, a price-to-earnings ratio of 37.26 and a beta of 1.74. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59.

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

About Celestica

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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