Celestica (NYSE:CLS) Sets New 1-Year Low – Here’s Why

by · The Markets Daily

Celestica, Inc. (NYSE:CLS – Get Free Report) (TSE:CLS)’s stock price hit a new 52-week low on Wednesday. The stock traded as low as $241.65 and last traded at $243.41, with a volume of 469,179 shares. The stock had previously closed at $259.94.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. TD set a $430.00 target price on shares of Celestica and gave the company a “buy” rating in a report on Wednesday, September 16th. Stifel Nicolaus set a $500.00 price target on shares of Celestica in a research note on Tuesday, July 28th. Scotiabank assumed coverage on shares of Celestica in a research report on Tuesday, August 11th. They issued a “sector outperform” rating and a $500.00 price target for the company. Barclays upped their price objective on shares of Celestica from $406.00 to $414.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Celestica from $445.00 to $485.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $453.32.

View Our Latest Analysis on CLS

Celestica Price Performance

The firm has a market capitalization of $26.96 billion, a price-to-earnings ratio of 20.43, a P/E/G ratio of 0.63 and a beta of 2.10. The company has a fifty day moving average price of $319.52 and a two-hundred day moving average price of $329.71. The company has a quick ratio of 1.03, a current ratio of 1.61 and a debt-to-equity ratio of 0.13.

Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last announced its earnings results on Monday, October 26th. The technology company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.28. Celestica had a net margin of 6.83% and a return on equity of 33.80%. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.39 billion. On average, equities research analysts expect that Celestica, Inc. will post 10.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, President Todd Cooper sold 20,118 shares of the company’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $360.00, for a total value of $7,242,480.00. Following the completion of the sale, the president directly owned 73,252 shares of the company’s stock, valued at approximately $26,370,720. This represents a 21.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert Mionis sold 23,496 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $362.39, for a total transaction of $8,514,715.44. Following the completion of the sale, the chief executive officer directly owned 23,396 shares of the company’s stock, valued at $8,478,476.44. The trade was a 50.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 67,010 shares of company stock worth $24,278,487. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Celestica

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Everest Financial Group LLC increased its stake in shares of Celestica by 31.4% during the 3rd quarter. Everest Financial Group LLC now owns 1,380 shares of the technology company’s stock valued at $499,000 after acquiring an additional 330 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Celestica by 143.9% during the 3rd quarter. Fifth Third Bancorp now owns 644 shares of the technology company’s stock worth $233,000 after acquiring an additional 380 shares during the period. Maryland State Retirement & Pension System acquired a new stake in shares of Celestica in the third quarter worth approximately $4,956,000. Jefferies Financial Group Inc. acquired a new stake in shares of Celestica in the third quarter worth approximately $5,423,000. Finally, Keybank National Association OH boosted its position in shares of Celestica by 37.6% in the third quarter. Keybank National Association OH now owns 2,761 shares of the technology company’s stock worth $998,000 after acquiring an additional 755 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Celestica Company Profile

(Get Free Report)

Celestica Inc is a global provider of design, manufacturing, and supply chain solutions for original equipment manufacturers and other technology companies. The company helps customers develop, produce, and support complex hardware and integrated systems across their product life cycles.

Its services include product design and engineering, electronics and mechanical manufacturing, systems integration, testing, supply chain management, logistics, and after-market support. Celestica serves markets such as communications, enterprise and cloud computing, aerospace and defense, industrial technology, health technology, and capital equipment.

Headquartered in Toronto, Canada, Celestica operates a global network of manufacturing, engineering, and supply chain facilities serving customers in North America, Europe, and Asia.

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