US Bancorp DE Acquires 3,072 Shares of Celestica, Inc. (NYSE:CLS)

Key Points

• US Bancorp DE increased its shares in Celestica, Inc. by 116.2% during Q1, now holding 5,715 shares valued at $450,000.
• Celestica reported $1.39 EPS for the latest quarter, exceeding expectations and showing a 21% revenue increase year-over-year to $2.89 billion.
• Wall Street analysts have a positive outlook for Celestica, with ten buy ratings and a significant price target increase to an average of $168.92.

US Bancorp DE boosted its position in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 116.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,715 shares of the technology company's stock after buying an additional 3,072 shares during the period. US Bancorp DE's holdings in Celestica were worth $450,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Rothschild Investment LLC acquired a new stake in Celestica in the first quarter valued at approximately $26,000. ORG Partners LLC acquired a new position in shares of Celestica during the first quarter worth $29,000. Center for Financial Planning Inc. bought a new stake in shares of Celestica in the first quarter worth $30,000. Bessemer Group Inc. acquired a new stake in Celestica in the fourth quarter valued at $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 purchasing an additional 637 shares during the last quarter. 67.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CLS shares. Canaccord Genuity Group lifted their target price on shares of Celestica from $126.00 to $240.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. UBS Group restated a "neutral" rating and issued a $208.00 target price (up from $101.00) on shares of Celestica in a research note on Wednesday, July 30th. Wall Street Zen raised Celestica from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. BMO Capital Markets restated an "outperform" rating and set a $130.00 price target (up previously from $118.00) on shares of Celestica in a research note on Thursday, May 22nd. Finally, Royal Bank Of Canada upped their target price on shares of Celestica from $185.00 to $225.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $168.92.

Celestica Price Performance

NYSE:CLS traded down $1.13 during mid-day trading on Friday, reaching $195.51. The stock had a trading volume of 2,428,277 shares, compared to its average volume of 4,372,482. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.44. Celestica, Inc. has a one year low of $40.65 and a one year high of $218.80. The firm has a 50 day moving average price of $162.95 and a two-hundred day moving average price of $122.20. The stock has a market capitalization of $22.49 billion, a P/E ratio of 42.32 and a beta of 1.80.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued its earnings results on Monday, July 28th. The technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.23 by $0.16. Celestica had a net margin of 5.11% and a return on equity of 28.23%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. The firm's revenue for the quarter was up 21.0% on a year-over-year basis. As a group, analysts expect that Celestica, Inc. will post 4.35 earnings per share for the current 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.