Celestica (NYSE:CLS) Trading Down 12.7% – Time to Sell?

by · The Markets Daily

Celestica, Inc. (NYSE:CLS – Get Free Report) (TSE:CLS)’s share price traded down 12.7% during trading on Friday . The company traded as low as $304.01 and last traded at $306.7130. 4,841,548 shares traded hands during trading, an increase of 24% from the average session volume of 3,914,329 shares. The stock had previously closed at $351.41.

Analyst Ratings Changes

CLS has been the subject of a number of analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Celestica in a research note on Wednesday, October 8th. TD Cowen restated a “hold” rating and set a $238.00 target price on shares of Celestica in a report on Friday, October 3rd. BMO Capital Markets set a $370.00 price target on shares of Celestica and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. lifted their price objective 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. Finally, Wall Street Zen cut Celestica from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. One equities 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $336.13.

View Our Latest Stock Report on CLS

Celestica Trading Down 12.7%

The firm has a market capitalization of $35.27 billion, a P/E ratio of 49.79 and a beta of 1.83. The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $305.29 and a 200-day moving average of $225.01.

Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last released its quarterly earnings data on Monday, October 27th. The technology company reported $1.58 earnings per share for the quarter, beating 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 analyst estimates of $3.01 billion. During the same period last year, the firm posted $1.04 earnings per share. Celestica’s revenue was up 27.8% compared to the same quarter last year. On average, equities research analysts predict that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Laurette T. Koellner bought 6,000 shares of Celestica stock in a transaction dated Thursday, October 30th. The stock was 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 in the company, valued at approximately $2,050,020. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.52% of the company’s stock.

Institutional Trading of Celestica

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Celestica by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,738,673 shares of the technology company’s stock valued at $1,166,093,000 after purchasing an additional 97,755 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Celestica by 471.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,146,928 shares of the technology company’s stock worth $775,133,000 after purchasing an additional 2,596,318 shares during the period. Franklin Resources Inc. increased its position in Celestica by 4.8% during 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 increased its stake in shares of Celestica by 362.8% in the 1st quarter. Voya Investment Management LLC now owns 1,854,085 shares of the technology company’s stock worth $146,122,000 after purchasing an additional 1,453,473 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased 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 acquiring an additional 259,504 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

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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