Marks Group Wealth Management Inc Takes $670,000 Position in Celestica, Inc. $CLS

Marks Group Wealth Management Inc bought a new stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) during the 3rd quarter, Holdings Channel.com reports. The firm bought 2,719 shares of the technology company’s stock, valued at approximately $670,000.

Several other large investors have also recently added to or reduced their stakes in CLS. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Celestica by 42.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock worth $31,000 after purchasing an additional 37 shares in the last quarter. World Equity Group Inc. raised its holdings in shares of Celestica by 1.7% during the 3rd quarter. World Equity Group Inc. now owns 2,263 shares of the technology company’s stock valued at $558,000 after buying an additional 38 shares during the period. Pure Financial Advisors LLC raised its holdings in shares of Celestica by 3.2% during the 3rd quarter. Pure Financial Advisors LLC now owns 1,617 shares of the technology company’s stock valued at $398,000 after buying an additional 50 shares during the period. McIlrath & Eck LLC lifted its position in Celestica by 43.3% during the 3rd quarter. McIlrath & Eck LLC now owns 182 shares of the technology company’s stock worth $45,000 after acquiring an additional 55 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Celestica by 48.7% in the 3rd quarter. Fifth Third Bancorp now owns 171 shares of the technology company’s stock worth $42,000 after acquiring an additional 56 shares during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Stock Performance

CLS stock opened at $296.73 on Tuesday. The stock’s 50 day simple moving average is $299.92 and its 200 day simple moving average is $280.43. Celestica, Inc. has a 12-month low of $58.05 and a 12-month high of $363.40. The firm has a market cap of $34.14 billion, a P/E ratio of 41.33 and a beta of 1.86. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CLS. Wall Street Zen upgraded shares of Celestica from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. TD Cowen reaffirmed a “hold” rating on shares of Celestica in a report on Friday, January 30th. Bank of America assumed coverage on shares of Celestica in a research note on Wednesday, January 28th. They set a “buy” rating and a $400.00 price target on the stock. Canadian Imperial Bank of Commerce upped their price objective on shares of Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Finally, Stifel Nicolaus restated a “buy” rating and set a $385.00 target price (up from $230.00) on shares of Celestica in a research note on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Celestica has an average rating of “Moderate Buy” and a consensus price target of $356.59.

Insiders Place Their Bets

In related news, President Todd C. Cooper sold 1,065 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total transaction of $301,938.15. Following the sale, the president owned 108,970 shares in the company, valued at $30,894,084.70. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Jason Phillips sold 100,000 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the completion of the transaction, the president directly owned 12,584 shares in the company, valued at $3,887,449.28. This represents a 88.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 297,923 shares of company stock valued at $88,027,459. Company insiders own 0.52% of the company’s stock.

Celestica 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.