Celestica (NYSE:CLS) Stock Price Down 7.8% – Should You Sell?

by · The Markets Daily

Celestica, Inc. (NYSE:CLS – Get Free Report) (TSE:CLS) shares traded down 7.8% on Monday . The company traded as low as $316.73 and last traded at $317.6260. 3,117,543 shares were traded during trading, a decline of 22% from the average session volume of 3,971,785 shares. The stock had previously closed at $344.41.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Barclays lifted 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. TD Securities upped their price objective on Celestica from $238.00 to $305.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. New Street Research set a $400.00 price objective on Celestica in a research report on Wednesday, October 29th. The Goldman Sachs Group upped their target price on shares of Celestica from $340.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Celestica from $295.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $336.13.

View Our Latest Stock Analysis on CLS

Celestica Price Performance

The company’s 50-day moving average is $292.98 and its 200-day moving average is $215.75. The firm has a market capitalization of $34.67 billion, a price-to-earnings ratio of 49.63 and a beta of 1.83. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.88.

Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last posted its quarterly earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates 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 was up 27.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.04 earnings per share. On average, research analysts expect that Celestica, Inc. will post 4.35 earnings per share 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 on 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 transaction, the director directly owned 6,000 shares in the company, valued at approximately $2,050,020. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Celestica

A number of institutional investors have recently made changes to their positions in CLS. Pinney & Scofield Inc. raised its stake in shares of Celestica by 20.0% in the 3rd quarter. Pinney & Scofield Inc. now owns 180 shares of the technology company’s stock valued at $44,000 after purchasing an additional 30 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Celestica by 42.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock worth $31,000 after acquiring an additional 37 shares during the last quarter. World Equity Group Inc. increased its holdings in shares of Celestica by 1.7% in the 3rd quarter. World Equity Group Inc. now owns 2,263 shares of the technology company’s stock worth $558,000 after acquiring an additional 38 shares during the period. Pure Financial Advisors LLC boosted its position in shares of Celestica by 3.2% during the third quarter. Pure Financial Advisors LLC now owns 1,617 shares of the technology company’s stock worth $398,000 after buying an additional 50 shares during the period. Finally, McIlrath & Eck LLC grew 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 buying an additional 55 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

About Celestica

(Get Free Report)

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.

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