NorthCrest Asset Manangement LLC Lowers Position in Celestica, Inc. $CLS

NorthCrest Asset Manangement LLC decreased its stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 21.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,300 shares of the technology company’s stock after selling 2,870 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Celestica were worth $3,020,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB grew its stake in shares of Celestica by 42.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after buying an additional 37 shares during the period. First Horizon Corp purchased a new position in shares of Celestica in the 3rd quarter worth $31,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Celestica in the 2nd quarter worth $40,000. Avion Wealth acquired a new position in Celestica in the third quarter valued at $40,000. Finally, Fifth Third Bancorp grew its position in Celestica by 48.7% during the third quarter. Fifth Third Bancorp now owns 171 shares of the technology company’s stock valued at $42,000 after acquiring an additional 56 shares during the period. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Insider Buying and Selling

In other Celestica news, President Todd C. Cooper sold 89,484 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $287.45, for a total value of $25,722,175.80. Following the completion of the sale, the president owned 108,970 shares of the company’s stock, valued at $31,323,426.50. This trade represents a 45.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Yann L. Etienvre sold 86,229 shares of Celestica stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $287.45, for a total transaction of $24,786,526.05. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 297,923 shares of company stock valued at $88,027,459. Corporate insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on CLS shares. Wolfe Research upgraded Celestica to a “strong-buy” rating in a research note on Tuesday, February 17th. Barclays lifted their price objective on Celestica from $359.00 to $391.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Citigroup dropped their target price on shares of Celestica from $375.00 to $338.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Weiss Ratings restated a “buy (b)” rating on shares of Celestica in a report on Wednesday, January 21st. Finally, Bank of America began coverage on shares of Celestica in a research report on Wednesday, January 28th. They set a “buy” rating and a $400.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $354.24.

Celestica Trading Down 5.5%

NYSE:CLS opened at $268.69 on Monday. The business’s 50-day moving average is $290.27 and its two-hundred day moving average is $290.32. The firm has a market capitalization of $30.91 billion, a PE ratio of 37.42 and a beta of 1.88. Celestica, Inc. has a 12 month low of $58.05 and a 12 month high of $363.40. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.44 and a quick ratio of 0.88.

Celestica Company Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.