Truist Financial Corp Acquires 214 Shares of Celestica Inc. (NYSE:CLS)

Truist Financial Corp grew its holdings in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 2.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,008 shares of the technology company’s stock after acquiring an additional 214 shares during the quarter. Truist Financial Corp’s holdings in Celestica were worth $631,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Celestica by 2,494.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock worth $391,147,000 after acquiring an additional 8,368,293 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Celestica by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,331,184 shares of the technology company’s stock worth $194,643,000 after buying an additional 64,658 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Celestica by 0.3% during the first quarter. Acadian Asset Management LLC now owns 2,640,877 shares of the technology company’s stock worth $118,730,000 after buying an additional 7,335 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Celestica by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock worth $68,024,000 after buying an additional 52,807 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its holdings in shares of Celestica by 19,876.9% during the second quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock worth $66,770,000 after buying an additional 1,158,823 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on CLS. Royal Bank of Canada increased their price objective on Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. TD Securities increased their price objective on Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. CIBC increased their price objective on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus upgraded Celestica from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Monday, September 9th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $61.88.

Celestica Stock Performance

CLS 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 cap of $7.26 billion, a price-to-earnings ratio of 22.80 and a beta of 2.28. The business has a 50 day moving average of $50.54 and a 200-day moving average of $51.54. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.10. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period last year, the firm posted $0.55 earnings per share. The business’s revenue was up 23.3% on a year-over-year basis. On average, equities research analysts expect that Celestica Inc. will post 3.22 earnings per share for the current year.

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.