Celestica Inc. (NYSE:CLS) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. decreased its holdings in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 19.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,400 shares of the technology company’s stock after selling 8,609 shares during the quarter. Wesbanco Bank Inc.’s holdings in Celestica were worth $3,267,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Optimum Investment Advisors raised its position in shares of Celestica by 66.7% in the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after buying an additional 200 shares during the period. Truist Financial Corp raised its position in shares of Celestica by 2.0% in the 2nd quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock worth $631,000 after buying an additional 214 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of Celestica by 26.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock worth $67,000 after buying an additional 275 shares during the period. UMB Bank n.a. raised its position in shares of Celestica by 43.6% in the 4th quarter. UMB Bank n.a. now owns 949 shares of the technology company’s stock worth $88,000 after buying an additional 288 shares during the period. Finally, Pier Capital LLC raised its position in shares of Celestica by 0.4% in the 3rd quarter. Pier Capital LLC now owns 93,055 shares of the technology company’s stock worth $4,757,000 after buying an additional 335 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on CLS shares. BMO Capital Markets raised their price objective on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. TD Cowen lifted their price target on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Barclays began coverage on Celestica in a research note on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price target for the company. TD Securities lifted their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, UBS Group began coverage on Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price for the company. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and an average price target of $81.45.

Insider Activity at Celestica

In other news, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the completion of the transaction, the director now owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

Celestica Stock Up 4.3 %

Celestica stock opened at $123.22 on Thursday. The company has a market cap of $14.34 billion, a P/E ratio of 39.12 and a beta of 2.25. Celestica Inc. has a 1-year low of $30.40 and a 1-year high of $131.23. The company has a fifty day simple moving average of $95.22 and a 200 day simple moving average of $69.86. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.11. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The business’s revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.65 EPS. Research analysts anticipate that Celestica Inc. will post 3.44 earnings per share for the current fiscal 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.