Celestica (NYSE:CLS) Trading Down 2.9% – What’s Next?

by · The Markets Daily

Celestica, Inc. (NYSE:CLS – Get Free Report) (TSE:CLS)’s share price traded down 2.9% during trading on Tuesday . The company traded as low as $297.50 and last traded at $300.5270. 3,078,404 shares were traded during mid-day trading, a decline of 23% from the average session volume of 3,985,281 shares. The stock had previously closed at $309.37.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CLS. Royal Bank Of Canada upped their target price on Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. New Street Research set a $400.00 price objective on shares of Celestica in a research report on Wednesday, October 29th. JPMorgan Chase & Co. lifted their target price on shares of Celestica from $295.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Barclays boosted their target price on shares of Celestica from $357.00 to $359.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, TD Cowen reaffirmed a “hold” rating and issued a $238.00 price target on shares of Celestica in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Celestica currently has an average rating of “Moderate Buy” and an average target price of $336.13.

Read Our Latest Analysis on Celestica

Celestica Stock Performance

The company has a market cap of $34.56 billion, a PE ratio of 48.79 and a beta of 1.85. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.47. The firm’s 50 day moving average is $278.92 and its 200-day moving average is $199.27.

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 for the quarter, topping the consensus estimate of $1.45 by $0.13. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the previous year, the firm posted $1.04 EPS. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. On average, research analysts anticipate that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Transactions at Celestica

In related news, Director Laurette T. Koellner bought 6,000 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was acquired at an average cost of $341.67 per share, with a total value of $2,050,020.00. Following the purchase, the director directly owned 6,000 shares of the company’s stock, valued at $2,050,020. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Celestica

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Celestica by 2.1% during the third quarter. Vanguard Group Inc. now owns 4,738,673 shares of the technology company’s stock worth $1,166,093,000 after purchasing an additional 97,755 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of 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 buying an additional 2,596,318 shares during the period. Franklin Resources Inc. lifted its holdings in Celestica by 4.8% in the third quarter. Franklin Resources Inc. now owns 1,921,417 shares of the technology company’s stock valued at $473,386,000 after acquiring an additional 88,212 shares during the last quarter. Voya Investment Management LLC grew its position in Celestica by 362.8% in the first quarter. Voya Investment Management LLC now owns 1,854,085 shares of the technology company’s stock worth $146,122,000 after acquiring an additional 1,453,473 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Celestica by 17.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,733,686 shares of the technology company’s stock worth $271,045,000 after acquiring an additional 259,504 shares during the period. Hedge funds and other institutional investors 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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