Celestica (NYSE:CLS) Stock Price Down 1% – Here’s Why

Celestica, Inc. (NYSE:CLS) (TSE:CLS) shares fell 1% on Tuesday . The company traded as low as $301.70 and last traded at $303.6620. 1,192,411 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 3,887,912 shares. The stock had previously closed at $306.86.

Analyst Ratings Changes

CLS has been the subject of a number of research analyst reports. BNP Paribas reiterated an “outperform” rating and set a $300.00 price objective on shares of Celestica in a research report on Thursday, September 25th. BMO Capital Markets set a $370.00 price target on shares of Celestica and gave the stock an “outperform” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. raised their price objective on Celestica from $295.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Barclays boosted their price objective on Celestica from $357.00 to $359.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Finally, TD Securities increased their target price on Celestica from $238.00 to $305.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Celestica has an average rating of “Moderate Buy” and a consensus price target of $336.13.

Celestica Trading Down 1.0%

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 firm has a 50 day moving average price of $311.60 and a 200 day moving average price of $235.06. The stock has a market capitalization of $34.92 billion, a PE ratio of 49.30 and a beta of 1.83.

Celestica (NYSE:CLS) (TSE:CLS) last posted 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. The firm had revenue of $3.19 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.04 EPS. Equities analysts expect that Celestica, Inc. will post 4.35 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Laurette T. Koellner bought 6,000 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were purchased at an average price of $341.67 per share, with a total value of $2,050,020.00. Following the transaction, the director directly owned 6,000 shares in the company, valued at $2,050,020. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Celestica

Several institutional investors have recently modified their holdings of the business. Pinney & Scofield Inc. raised its position in Celestica by 20.0% in the third quarter. Pinney & Scofield Inc. now owns 180 shares of the technology company’s stock worth $44,000 after acquiring an additional 30 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of Celestica by 42.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after buying an additional 37 shares during the period. World Equity Group Inc. lifted its position in shares of Celestica by 1.7% during the 3rd quarter. World Equity Group Inc. now owns 2,263 shares of the technology company’s stock valued at $558,000 after buying an additional 38 shares during the last quarter. Pure Financial Advisors LLC grew its stake in shares of Celestica by 3.2% during the 3rd quarter. Pure Financial Advisors LLC now owns 1,617 shares of the technology company’s stock worth $398,000 after acquiring an additional 50 shares during the period. Finally, McIlrath & Eck LLC increased its holdings in Celestica by 43.3% in the 3rd quarter. McIlrath & Eck LLC now owns 182 shares of the technology company’s stock worth $45,000 after acquiring an additional 55 shares during the last quarter. 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.