Celestica (NYSE:CLS) Shares Down 9.9% – What’s Next?

Celestica, Inc. (NYSE:CLS) (TSE:CLS)’s stock price fell 9.9% during mid-day trading on Thursday . The stock traded as low as $278.85 and last traded at $281.6550. 4,443,603 shares changed hands during trading, an increase of 12% from the average session volume of 3,984,316 shares. The stock had previously closed at $312.48.

Analyst Ratings Changes

CLS has been the topic of a number of recent analyst reports. CIBC increased their price objective on Celestica from $315.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. UBS Group increased their price target on shares of Celestica from $208.00 to $350.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. BMO Capital Markets set a $370.00 price objective on shares of Celestica and gave the stock an “outperform” rating in a report on Wednesday, October 29th. New Street Research set a $400.00 target price on shares of Celestica in a report on Wednesday, October 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $385.00 target price (up from $230.00) on shares of Celestica in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Celestica has an average rating of “Moderate Buy” and an average price target of $336.13.

Celestica Stock Performance

The stock has a market cap of $32.39 billion, a PE ratio of 45.72 and a beta of 1.85. The firm’s 50-day moving average is $281.26 and its 200 day moving average is $201.51. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.47.

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

Insider Buying and Selling at Celestica

In related news, Director Laurette T. Koellner bought 6,000 shares of the stock in a transaction on 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 purchase, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Celestica

Several hedge funds have recently modified their holdings of the stock. Golden State Wealth Management LLC boosted its holdings in shares of Celestica by 102.5% in the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after acquiring an additional 83 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Celestica by 42.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after purchasing an additional 37 shares during the period. First Horizon Corp purchased a new stake in Celestica in the 3rd quarter valued at approximately $31,000. ST Germain D J Co. Inc. purchased a new stake in Celestica in the 2nd quarter valued at approximately $37,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in Celestica during the 2nd quarter worth approximately $40,000. 67.38% of the stock is owned by institutional investors and hedge funds.

Celestica Company Profile

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.