UMB Bank n.a. Purchases New Position in Celestica Inc. (NYSE:CLS)

UMB Bank n.a. acquired a new position in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 661 shares of the technology company’s stock, valued at approximately $34,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Celestica by 15.2% during the 4th quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock worth $124,924,000 after acquiring an additional 562,157 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in Celestica by 12.2% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 16,529 shares of the technology company’s stock worth $484,000 after purchasing an additional 1,800 shares during the last quarter. Enterprise Bank & Trust Co bought a new stake in Celestica in the 1st quarter worth about $212,000. Ausbil Investment Management Ltd purchased a new stake in Celestica in the 1st quarter valued at about $1,597,000. Finally, Oliver Luxxe Assets LLC bought a new position in shares of Celestica during the 1st quarter worth approximately $3,248,000. 67.38% of the stock is owned by institutional investors.

Celestica Price Performance

CLS stock opened at $61.11 on Wednesday. Celestica Inc. has a 12-month low of $20.87 and a 12-month high of $64.56. The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of 22.80 and a beta of 2.28. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49. The firm’s 50-day moving average price is $50.54 and its two-hundred day moving average price is $51.54.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.10. The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. Celestica’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 earnings per share. As a group, equities analysts predict that Celestica Inc. will post 3.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank of Canada lifted their price objective on shares of Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. CIBC boosted their target price on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. TD Securities boosted their price target on shares of Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Canaccord Genuity Group upped their price objective on Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.88.

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.