Celestica (NYSE:CLS) Trading Down 10.2% – Should You Sell?

by · The Cerbat Gem

Celestica, Inc. (NYSE:CLS – Get Free Report) (TSE:CLS) traded down 10.2% during trading on Friday . The stock traded as low as $315.76 and last traded at $315.6690. 1,198,001 shares were traded during mid-day trading, a decline of 69% from the average session volume of 3,898,338 shares. The stock had previously closed at $351.41.

Analyst Ratings Changes

CLS has been the topic of several research reports. 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. New Street Research set a $400.00 price objective on Celestica in a research report on Wednesday, October 29th. TD Securities raised 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. Wall Street Zen downgraded Celestica from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Finally, 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 report on Wednesday, October 29th. One research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $336.13.

Get Our Latest Analysis on Celestica

Celestica Stock Performance

The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a market cap of $36.15 billion, a price-to-earnings ratio of 51.12 and a beta of 1.83. The firm has a fifty day simple moving average of $305.29 and a 200-day simple moving average of $225.01.

Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last issued its earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.13. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter last year, the business earned $1.04 earnings per share. The company’s revenue was up 27.8% compared to the same quarter last year. Analysts forecast that Celestica, Inc. will post 4.35 EPS for the current fiscal year.

Insider Activity at Celestica

In other news, Director Laurette T. Koellner acquired 6,000 shares of the stock in a transaction dated Thursday, October 30th. The shares were bought at an average cost of $341.67 per share, for a total transaction of $2,050,020.00. Following the purchase, the director directly owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Celestica

A number of large investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC increased its position in shares of Celestica by 102.5% in the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock worth $26,000 after purchasing an additional 83 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in Celestica by 42.5% in the 3rd 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. First Horizon Corp acquired a new position in shares of Celestica in the 3rd quarter valued at approximately $31,000. ST Germain D J Co. Inc. acquired a new position in Celestica during the second quarter valued at approximately $37,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in Celestica during the second quarter worth $40,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

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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