Wealthspire Advisors LLC Purchases New Shares in Celestica, Inc. (NYSE:CLS)

Key Points

• Wealthspire Advisors LLC has invested approximately $239,000 in Celestica, Inc. by acquiring 3,028 shares during the first quarter.
• Analysts have given Celestica a consensus rating of "Buy" with a target price range indicating significant potential for growth.
• Celestica's stock recently reached a high of $214.47, reflecting its substantial market capitalization of $23.93 billion.

Wealthspire Advisors LLC acquired a new stake in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,028 shares of the technology company's stock, valued at approximately $239,000.

Other hedge funds also recently modified their holdings of the company. Rothschild Investment LLC bought a new stake in shares of Celestica in the 1st quarter worth $26,000. ORG Partners LLC bought a new stake in shares of Celestica in the 1st quarter worth $29,000. Center for Financial Planning Inc. bought a new stake in shares of Celestica in the 1st quarter worth $30,000. Bessemer Group Inc. purchased a new position in shares of Celestica in the 4th quarter worth about $42,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Celestica by 1,516.7% in 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. Institutional investors own 67.38% of the company's stock.

Celestica Stock Performance

Shares of NYSE:CLS traded up $8.94 during mid-day trading on Tuesday, reaching $213.54. 2,712,076 shares of the company traded hands, compared to its average volume of 4,387,804. The company's 50 day moving average price is $157.87 and its 200-day moving average price is $120.23. The firm has a market cap of $24.56 billion, a PE ratio of 46.22 and a beta of 1.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.44 and a quick ratio of 0.86. Celestica, Inc. has a 52 week low of $40.65 and a 52 week high of $214.47.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CLS. CIBC cut their price target on shares of Celestica from $150.00 to $120.00 and set an "outperformer" rating on the stock in a report on Tuesday, April 15th. Barclays boosted their price target on shares of Celestica from $146.00 to $220.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Royal Bank Of Canada boosted their price target on shares of Celestica from $185.00 to $225.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. UBS Group reissued a "neutral" rating and issued a $208.00 price target (up from $101.00) on shares of Celestica in a report on Wednesday, July 30th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $130.00 price target (up from $118.00) on shares of Celestica in a report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $168.92.

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.