Celestica (NYSE:CLS) Trading Down 3.1% – What’s Next?

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) were down 3.1% during mid-day trading on Thursday . The stock traded as low as $332.80 and last traded at $341.71. Approximately 2,568,464 shares traded hands during trading, a decline of 36% from the average daily volume of 4,004,218 shares. The stock had previously closed at $352.61.

Analysts Set New Price Targets

CLS has been the subject of a number of research reports. TD Securities lifted their price objective on Celestica from $238.00 to $305.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th. BMO Capital Markets set a $370.00 target price on Celestica and gave the company an “outperform” rating in a report on Wednesday, October 29th. Wall Street Zen raised Celestica from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. CICC Research initiated coverage on Celestica in a report on Tuesday, August 19th. They set an “outperform” rating for the company. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $385.00 price target (up from $230.00) on shares of Celestica in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $325.13.

Celestica Price Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.47. The company has a 50-day simple moving average of $261.70 and a 200-day simple moving average of $185.27. The company has a market cap of $39.31 billion, a price-to-earnings ratio of 55.47 and a beta of 1.85.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.13. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the previous year, the firm posted $1.04 EPS. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. As a group, research analysts predict that Celestica, Inc. will post 4.35 earnings per share for the current year.

Insider Buying and Selling at Celestica

In other Celestica news, Director Laurette T. Koellner purchased 6,000 shares of Celestica stock in a transaction on Thursday, October 30th. The shares were bought at an average price of $341.67 per share, with a total value of $2,050,020.00. Following the purchase, the director directly owned 6,000 shares in the company, valued at $2,050,020. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Naviter Wealth LLC acquired a new stake in Celestica in the 3rd quarter valued at $250,000. Assetmark Inc. increased its holdings in Celestica by 13.7% in the 3rd quarter. Assetmark Inc. now owns 17,607 shares of the technology company’s stock valued at $4,338,000 after purchasing an additional 2,124 shares in the last quarter. Public Sector Pension Investment Board acquired a new stake in Celestica in the 3rd quarter valued at $1,791,000. GK Wealth Management LLC increased its holdings in Celestica by 3.5% in the 3rd quarter. GK Wealth Management LLC now owns 5,910 shares of the technology company’s stock valued at $1,456,000 after purchasing an additional 198 shares in the last quarter. Finally, Caprock Group LLC acquired a new stake in Celestica in the 3rd quarter valued at $6,398,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.