Celestica (NYSE:CLS) Shares Down 5.4% – Time to Sell?

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) were down 5.4% during trading on Friday . The company traded as low as $303.50 and last traded at $322.22. Approximately 4,968,242 shares were traded during mid-day trading, an increase of 24% from the average daily volume of 4,008,766 shares. The stock had previously closed at $340.76.

Analyst Ratings Changes

A number of research firms recently commented on CLS. CIBC lifted their price target on Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Royal Bank Of Canada lifted their price target on Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. TD Securities upped their price objective on Celestica from $238.00 to $305.00 and gave the company a “hold” rating in a report on Wednesday, October 29th. UBS Group lifted their target price on Celestica from $208.00 to $350.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Finally, Wall Street Zen upgraded shares of Celestica from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $325.13.

Celestica Trading Down 5.4%

The company has a market capitalization of $37.07 billion, a price-to-earnings ratio of 52.31 and a beta of 1.85. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average price is $264.28 and its two-hundred day moving average price is $186.35.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Monday, October 27th. The technology company reported $1.58 earnings per share for the quarter, beating 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 the consensus estimate of $3.01 billion. During the same quarter last year, the business posted $1.04 EPS. Celestica’s revenue for the quarter was up 27.8% on a year-over-year basis. On average, equities analysts predict that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Activity

In other Celestica news, Director Laurette T. Koellner bought 6,000 shares of the stock in a transaction on Thursday, October 30th. The stock was acquired at an average cost of $341.67 per share, for a total transaction of $2,050,020.00. Following the completion of the acquisition, the director 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 document filed with the SEC, which is available at this link. 0.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Celestica

A number of hedge funds have recently bought and sold shares of CLS. World Investment Advisors bought a new position in shares of Celestica in the first quarter valued at approximately $249,000. Bank of New York Mellon Corp boosted its position in Celestica by 22.3% in the first quarter. Bank of New York Mellon Corp now owns 121,467 shares of the technology company’s stock worth $9,573,000 after purchasing an additional 22,120 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Celestica by 9.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 144,083 shares of the technology company’s stock valued at $11,359,000 after purchasing an additional 12,279 shares during the period. Stratos Wealth Advisors LLC increased its position in shares of Celestica by 12.1% during the 1st quarter. Stratos Wealth Advisors LLC now owns 4,730 shares of the technology company’s stock valued at $373,000 after purchasing an additional 510 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its position in shares of Celestica by 10.3% during the 1st quarter. Stratos Wealth Partners LTD. now owns 51,950 shares of the technology company’s stock valued at $4,094,000 after purchasing an additional 4,870 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.