Waterfront Wealth Inc. Has $974,000 Stock Position in Celestica Inc. (NYSE:CLS)

Waterfront Wealth Inc. trimmed its position in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,273 shares of the technology company’s stock after selling 597 shares during the quarter. Waterfront Wealth Inc.’s holdings in Celestica were worth $974,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clearstead Advisors LLC acquired a new stake in shares of Celestica during the third quarter worth approximately $32,000. Financial Management Professionals Inc. acquired a new stake in shares of Celestica during the third quarter worth approximately $34,000. Advisor Group Holdings Inc. boosted its holdings in shares of Celestica by 2,775.7% during the fourth quarter. Advisor Group Holdings Inc. now owns 3,911 shares of the technology company’s stock worth $44,000 after purchasing an additional 3,775 shares during the period. UniSuper Management Pty Ltd acquired a new stake in shares of Celestica during the second quarter worth approximately $56,000. Finally, Covestor Ltd acquired a new stake in Celestica in the third quarter valued at approximately $68,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Stock Performance

Shares of NYSE:CLS traded up $0.37 during trading on Thursday, reaching $44.99. The stock had a trading volume of 175,957 shares, compared to its average volume of 2,138,991. Celestica Inc. has a 52 week low of $10.50 and a 52 week high of $51.12. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 21.98 and a beta of 2.22. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.41. The stock has a fifty day simple moving average of $43.94 and a two-hundred day simple moving average of $33.55.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Celestica had a net margin of 3.07% and a return on equity of 17.09%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.08 billion. As a group, analysts anticipate that Celestica Inc. will post 2.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CLS shares. Royal Bank of Canada lifted their target price on shares of Celestica from $33.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. StockNews.com cut shares of Celestica from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. BMO Capital Markets lifted their target price on shares of Celestica from $32.00 to $37.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. TD Securities lifted their target price on shares of Celestica from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Finally, CIBC lifted their target price on shares of Celestica from $33.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $33.88.

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.