Celestica (NYSE:CLS) Stock Price Down 4.7% – Should You Sell?

Celestica, Inc. (NYSE:CLS) (TSE:CLS)’s share price traded down 4.7% during mid-day trading on Wednesday . The company traded as low as $266.00 and last traded at $275.26. 4,955,441 shares were traded during mid-day trading, an increase of 27% from the average session volume of 3,909,867 shares. The stock had previously closed at $288.87.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CLS shares. Barclays upped their price target on Celestica from $357.00 to $359.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Royal Bank Of Canada raised their price target on Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. UBS Group increased their price objective on shares of Celestica from $208.00 to $350.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Wall Street Zen downgraded shares of Celestica from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Finally, CICC Research assumed coverage on shares of Celestica in a report on Tuesday, August 19th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $336.13.

Celestica Stock Down 4.7%

The firm’s 50 day moving average is $309.10 and its 200-day moving average is $230.36. The firm has a market cap of $31.65 billion, a PE ratio of 44.69 and a beta of 1.83. The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.37.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the firm posted $1.04 EPS. Celestica’s revenue was up 27.8% on a year-over-year basis. As a group, equities research analysts expect that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Activity at Celestica

In related news, Director Laurette T. Koellner acquired 6,000 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were acquired 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Celestica

A number of large investors have recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB raised its position in shares of 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 period. First Horizon Corp purchased a new position in shares of Celestica in the 3rd quarter worth about $31,000. Golden State Wealth Management LLC lifted its stake in shares of Celestica by 102.5% in the 2nd 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. Avion Wealth purchased a new stake in shares of Celestica during the 3rd quarter worth about $40,000. Finally, Fifth Third Bancorp grew its holdings in shares of Celestica by 48.7% during the 3rd quarter. Fifth Third Bancorp now owns 171 shares of the technology company’s stock worth $42,000 after purchasing an additional 56 shares during the period. Hedge funds and other 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.