Celestica (NYSE:CLS) Stock Price Down 2.4% – What’s Next?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price traded down 2.4% during trading on Wednesday . The company traded as low as $59.53 and last traded at $59.63. 677,696 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 2,226,314 shares. The stock had previously closed at $61.11.

Analysts Set New Price Targets

CLS has been the subject of a number of research analyst reports. Stifel Nicolaus upgraded shares of Celestica from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Monday, September 9th. StockNews.com downgraded shares of Celestica from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. CIBC boosted their target price on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Canaccord Genuity Group raised their price target on Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, TD Securities boosted their price objective on shares of Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Celestica currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.88.

Celestica Trading Down 0.6 %

The business has a 50-day moving average of $51.34 and a 200 day moving average of $51.74. The stock has a market cap of $6.87 billion, a PE ratio of 21.71 and a beta of 2.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. Equities research analysts predict that Celestica Inc. will post 3.22 EPS for the current fiscal year.

Institutional Trading of Celestica

Several institutional investors have recently made changes to their positions in the stock. Optimum Investment Advisors raised its position in shares of Celestica by 66.7% in the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after buying an additional 200 shares during the period. UMB Bank n.a. acquired a new position in shares of Celestica in the 3rd quarter valued at about $34,000. Wolff Wiese Magana LLC grew its holdings in shares of Celestica by 32.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after purchasing an additional 170 shares during the period. Naples Money Management LLC lifted its position in Celestica by 90.0% during the second quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock valued at $55,000 after buying an additional 450 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in Celestica during the second quarter worth approximately $59,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

About Celestica

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.