Celestica (NYSE:CLS) Trading Down 3.1% – What’s Next?

Celestica, Inc. (NYSE:CLS) (TSE:CLS)’s stock price was down 3.1% during mid-day trading on Thursday . The company traded as low as $332.80 and last traded at $341.71. Approximately 2,568,464 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 4,004,218 shares. The stock had previously closed at $352.61.

Analyst Ratings Changes

A number of analysts have issued reports on CLS shares. UBS Group lifted their price objective on Celestica from $208.00 to $350.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Celestica in a research note on Wednesday, October 8th. CIBC lifted their price objective on Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. BNP Paribas reiterated an “outperform” rating and issued a $300.00 target price on shares of Celestica in a report on Thursday, September 25th. Finally, JPMorgan Chase & Co. boosted their price objective on Celestica from $295.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and an average target price of $325.13.

Celestica Stock Down 3.1%

The company has a 50-day moving average of $261.70 and a 200-day moving average of $185.27. The company has a market capitalization of $39.31 billion, a price-to-earnings ratio of 55.47 and a beta of 1.85. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.13. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.01 billion. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.04 EPS. On average, equities analysts predict that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Transactions at Celestica

In other Celestica news, Director Laurette T. Koellner purchased 6,000 shares of the stock in a transaction on Thursday, October 30th. The shares were bought at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the completion of the transaction, the director owned 6,000 shares of the company’s stock, valued at $2,050,020. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Celestica

A number of hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in Celestica by 1,103.8% during the first quarter. Jones Financial Companies Lllp now owns 24,486 shares of the technology company’s stock worth $1,930,000 after acquiring an additional 22,452 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake in Celestica by 406.3% during the second quarter. Y Intercept Hong Kong Ltd now owns 52,606 shares of the technology company’s stock worth $8,212,000 after acquiring an additional 42,215 shares during the last quarter. Fortis Capital Advisors LLC acquired a new stake in Celestica during the second quarter worth $343,000. Think Investments LP acquired a new stake in Celestica during the first quarter worth $14,939,000. Finally, Royal Bank of Canada increased its stake in Celestica by 1.5% during the first quarter. Royal Bank of Canada now owns 1,280,563 shares of the technology company’s stock worth $100,922,000 after acquiring an additional 19,391 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.