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

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

A number of other large investors also recently bought and sold shares of the stock. ORG Partners LLC purchased a new position in shares of Celestica during the 1st quarter valued at approximately $29,000. Kingswood Wealth Advisors LLC purchased a new stake in Celestica during the first quarter worth $264,000. Global Trust Asset Management LLC grew its position in Celestica by 40.6% during the first quarter. Global Trust Asset Management LLC now owns 4,148 shares of the technology company's stock valued at $327,000 after buying an additional 1,198 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Celestica by 66.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,334 shares of the technology company's stock valued at $578,000 after buying an additional 2,941 shares during the period. Finally, NewGen Asset Management Ltd purchased a new position in Celestica in the first quarter valued at $5,517,000. 67.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CLS shares. Royal Bank Of Canada restated an "outperform" rating and set a $120.00 target price on shares of Celestica in a research report on Monday, April 28th. JPMorgan Chase & Co. increased 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. BNP Paribas upgraded Celestica to a "strong-buy" rating in a research report on Wednesday, June 11th. CIBC reduced their target price on Celestica from $150.00 to $120.00 and set an "outperformer" rating for the company in a research note on Tuesday, April 15th. Finally, Argus decreased their target price on Celestica from $150.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $116.64.

Celestica Price Performance

CLS traded up $7.44 on Tuesday, hitting $143.78. 3,333,232 shares of the company's stock were exchanged, compared to its average volume of 3,316,049. Celestica, Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $144.27. The stock has a market cap of $16.53 billion, a price-to-earnings ratio of 39.61 and a beta of 1.74. The firm has a 50-day moving average price of $108.48 and a 200-day moving average price of $103.10. 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 posted its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 earnings per share 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 firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period in the previous year, the business posted $0.83 earnings per share. Celestica's quarterly revenue was up 19.9% on a year-over-year basis. As a group, equities analysts anticipate that Celestica, Inc. will post 4.35 earnings per share for the current year.

Celestica 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.