Wesbanco Bank Inc. Sells 14,400 Shares of Celestica Inc. (NYSE:CLS)

Wesbanco Bank Inc. lessened its stake in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 40.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,000 shares of the technology company's stock after selling 14,400 shares during the period. Wesbanco Bank Inc.'s holdings in Celestica were worth $1,655,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CLS. Peregrine Capital Management LLC purchased a new position in shares of Celestica during the 4th quarter worth $30,000. Rothschild Investment LLC bought a new position in Celestica in the first quarter worth about $26,000. Pinpoint Asset Management Ltd raised its holdings in shares of Celestica by 109.6% during the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock valued at $32,000 after buying an additional 182 shares during the last quarter. Bessemer Group Inc. acquired a new position in shares of Celestica during the fourth quarter valued at approximately $42,000. Finally, IFP Advisors Inc grew its position in Celestica by 122.7% in the fourth quarter. IFP Advisors Inc now owns 668 shares of the technology company's stock worth $62,000 after buying an additional 368 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company's stock.

Celestica Price Performance

Celestica stock traded down $5.55 during mid-day trading on Friday, reaching $125.18. 2,716,202 shares of the company's stock traded hands, compared to its average volume of 3,297,784. The company has a market cap of $14.47 billion, a price-to-earnings ratio of 33.47 and a beta of 1.74. Celestica Inc. has a 12-month low of $40.25 and a 12-month high of $144.27. The stock has a 50 day moving average of $101.77 and a two-hundred day moving average of $100.97. 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 (NYSE:CLS - Get Free Report) TSE: CLS last released 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. The business had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.56 billion. Celestica had a net margin of 4.61% and a return on equity of 23.34%. The company's revenue was up 19.9% compared to the same quarter last year. During the same period last year, the business earned $0.83 EPS. Equities analysts forecast that Celestica Inc. will post 4.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CLS shares. CIBC lowered their target price on Celestica from $150.00 to $120.00 and set an "outperformer" rating on the stock in a report on Tuesday, April 15th. Stifel Nicolaus upped their price objective on shares of Celestica from $140.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Royal Bank of Canada restated an "outperform" rating and issued a $120.00 price target on shares of Celestica in a report on Monday, April 28th. BMO Capital Markets reiterated an "outperform" rating and issued a $130.00 target price (up from $118.00) on shares of Celestica in a research note on Thursday, May 22nd. Finally, BNP Paribas upgraded shares of Celestica to a "strong-buy" rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price 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.