Celestica (NYSE:CLS) Trading Down 0.7%

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price was down 0.7% on Tuesday . The stock traded as low as $52.93 and last traded at $54.14. Approximately 348,535 shares were traded during trading, a decline of 85% from the average daily volume of 2,286,915 shares. The stock had previously closed at $54.54.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a report on Friday, May 24th. BMO Capital Markets lifted their price objective on shares of Celestica from $37.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Fox Advisors initiated coverage on shares of Celestica in a research report on Wednesday, May 15th. They set an “overweight” rating and a $60.00 target price on the stock. Canaccord Genuity Group lifted their price target on shares of Celestica from $48.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada boosted their price target on Celestica from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Sunday, April 28th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.56.

Celestica Price Performance

The company’s 50-day moving average is $49.26 and its 200-day moving average is $40.14. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 20.20 and a beta of 2.28. The company has a current ratio of 1.42, a quick ratio of 0.78 and a debt-to-equity ratio of 0.45.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.10 billion. Celestica had a return on equity of 18.25% and a net margin of 3.86%. Equities research analysts predict that Celestica Inc. will post 2.87 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in Celestica by 2,494.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock worth $391,147,000 after purchasing an additional 8,368,293 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Celestica by 50.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,094,994 shares of the technology company’s stock worth $149,153,000 after acquiring an additional 2,054,918 shares during the period. Vanguard Group Inc. boosted its holdings in Celestica by 1.5% in the first quarter. Vanguard Group Inc. now owns 4,331,184 shares of the technology company’s stock valued at $194,643,000 after acquiring an additional 64,658 shares during the last quarter. Point72 Asset Management L.P. increased its position in Celestica by 72.9% during the 4th quarter. Point72 Asset Management L.P. now owns 3,386,709 shares of the technology company’s stock valued at $99,163,000 after purchasing an additional 1,428,071 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in shares of Celestica by 0.3% in the 1st quarter. Acadian Asset Management LLC now owns 2,640,877 shares of the technology company’s stock valued at $118,730,000 after purchasing an additional 7,335 shares during the last quarter. 67.38% of the stock is currently owned by 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.