Celestica (NYSE:CLS) Trading Down 5.5% – Time to Sell?

by · The Markets Daily

Celestica, Inc. (NYSE:CLS – Get Free Report) (TSE:CLS)’s stock price fell 5.5% during mid-day trading on Wednesday . The stock traded as low as $306.21 and last traded at $310.5230. 984,240 shares were traded during mid-day trading, a decline of 55% from the average session volume of 2,206,002 shares. The stock had previously closed at $328.56.

Analyst Upgrades and Downgrades

CLS has been the topic of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Celestica in a report on Wednesday, October 8th. Zacks Research cut Celestica from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. JPMorgan Chase & Co. boosted their price objective on shares of Celestica from $295.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group upped their price target 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, Wall Street Zen cut shares of Celestica from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $336.13.

View Our Latest Research Report on CLS

Celestica Stock Performance

The firm has a market cap of $35.17 billion, a PE ratio of 49.51 and a beta of 1.87. The stock has a 50-day moving average price of $312.74 and a 200 day moving average price of $254.15. 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 announced its quarterly earnings data on Monday, October 27th. The technology company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.13. The business had revenue of $3.19 billion for 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 company’s revenue was up 27.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.04 EPS. Research analysts forecast that Celestica, Inc. will post 4.35 earnings per share for the current year.

Insider Activity at Celestica

In other news, Director Laurette T. Koellner acquired 6,000 shares of the business’s 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 acquisition, the director directly owned 6,000 shares in the company, valued at $2,050,020. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Celestica by 2.1% in the third quarter. Vanguard Group Inc. now owns 4,738,673 shares of the technology company’s stock worth $1,166,093,000 after buying an additional 97,755 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Celestica by 471.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,146,928 shares of the technology company’s stock valued at $775,133,000 after purchasing an additional 2,596,318 shares in the last quarter. Franklin Resources Inc. increased its stake in Celestica by 4.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,921,417 shares of the technology company’s stock worth $473,386,000 after buying an additional 88,212 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Celestica by 17.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,733,686 shares of the technology company’s stock worth $271,045,000 after buying an additional 259,504 shares in the last quarter. Finally, Viking Global Investors LP purchased a new position in Celestica in the 3rd quarter valued at about $424,459,000. 67.38% of the stock is owned by institutional investors and hedge funds.

Celestica Company Profile

(Get Free Report)

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.

Further Reading