Celestica (NYSE:CLS) Trading Down 1.2% – Time to Sell?

Celestica, Inc. (NYSE:CLS) (TSE:CLS) shares traded down 1.2% during trading on Monday . The stock traded as low as $299.00 and last traded at $302.7750. 2,544,421 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 3,909,708 shares. The stock had previously closed at $306.50.

Analyst Ratings Changes

CLS has been the topic of several research reports. New Street Research set a $400.00 price objective on Celestica in a research report on Wednesday, October 29th. Citigroup upgraded Celestica from a “neutral” rating to a “buy” rating and lifted their price target for the company from $212.00 to $375.00 in a research report on Monday, November 10th. TD Securities increased their price objective on Celestica from $238.00 to $305.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. The Goldman Sachs Group raised their price objective on Celestica from $340.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Royal Bank Of Canada upped their target price on shares of Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $336.13.

Celestica Price Performance

The firm has a fifty day moving average price of $306.74 and a two-hundred day moving average price of $227.83. The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $34.82 billion, a P/E ratio of 49.15 and a beta of 1.83.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.45 by $0.13. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.01 billion. Celestica had a net margin of 6.35% and a return on equity of 30.53%. Celestica’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.04 EPS. On average, analysts expect that Celestica, Inc. will post 4.35 EPS for the current year.

Insiders Place Their Bets

In other news, Director Laurette T. Koellner acquired 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The stock was bought at an average cost of $341.67 per share, for a total transaction of $2,050,020.00. Following the acquisition, the director directly owned 6,000 shares in the company, valued at approximately $2,050,020. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.52% of the stock is currently owned by insiders.

Institutional Trading of Celestica

Institutional investors and hedge funds have recently modified their holdings of the business. Golden State Wealth Management LLC lifted its holdings in shares of Celestica by 102.5% during the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after purchasing an additional 83 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Celestica by 42.5% in 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 position in Celestica during the 3rd quarter valued at about $31,000. ST Germain D J Co. Inc. bought a new position in Celestica during the 2nd quarter valued at about $37,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Celestica during the 2nd quarter valued at about $40,000. Institutional investors own 67.38% of the company’s stock.

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.