Celestica (NYSE:CLS) Trading Down 1.2% – Should You Sell?

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) were down 1.2% on Tuesday . The stock traded as low as $299.10 and last traded at $299.5190. Approximately 859,484 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 3,841,508 shares. The stock had previously closed at $303.22.

Analyst Ratings Changes

Several equities research analysts have recently commented on CLS shares. TD Securities lifted their target price on Celestica from $238.00 to $305.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th. TD Cowen reissued a “hold” rating and set a $238.00 price objective on shares of Celestica in a report on Friday, October 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Celestica in a research report on Wednesday, October 8th. New Street Research set a $400.00 price target on shares of Celestica in a research report on Wednesday, October 29th. Finally, Barclays increased their price objective on shares of Celestica from $357.00 to $359.00 and gave the company an “overweight” rating in a report on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Celestica currently has a consensus rating of “Moderate Buy” and a consensus target price of $336.13.

Celestica Price Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.47. The company has a 50-day moving average of $315.20 and a 200-day moving average of $241.44. The firm has a market capitalization of $34.46 billion, a price-to-earnings ratio of 48.62 and a beta of 1.83.

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

Insider Activity

In other news, Director Laurette T. Koellner acquired 6,000 shares of Celestica stock in a transaction dated Thursday, October 30th. The stock was bought at an average cost of $341.67 per share, with a total value of $2,050,020.00. Following the completion of the transaction, the director directly owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Celestica

Hedge funds have recently made changes to their positions in the business. Golden State Wealth Management LLC lifted its position in shares of Celestica by 102.5% in the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock worth $26,000 after purchasing an additional 83 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted 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 worth $31,000 after buying an additional 37 shares during the last quarter. First Horizon Corp bought a new stake in Celestica during the third quarter worth about $31,000. ST Germain D J Co. Inc. acquired a new position in Celestica during the second quarter valued at approximately $37,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Celestica during the 2nd quarter worth approximately $40,000. 67.38% of the stock is owned by institutional investors.

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.