Celestica (NYSE:CLS) Shares Down 1.6% – What’s Next?

Celestica, Inc. (NYSE:CLS) (TSE:CLS)’s share price fell 1.6% on Friday . The stock traded as low as $302.25 and last traded at $303.7230. 771,062 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 3,862,210 shares. The stock had previously closed at $308.59.

Analyst Upgrades and Downgrades

CLS has been the topic of several analyst reports. Royal Bank Of Canada boosted their target price on Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. TD Cowen reissued a “hold” rating and set a $238.00 price objective on shares of Celestica in a research report on Friday, October 3rd. CIBC lifted their target price on shares of Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. TD Securities increased their price target on shares of Celestica from $238.00 to $305.00 and gave the company a “hold” rating in a report on Wednesday, October 29th. Finally, BNP Paribas restated an “outperform” rating and issued a $300.00 price objective on shares of Celestica in a report on Thursday, September 25th. One investment 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $336.13.

Celestica Stock Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.47. The stock has a market cap of $34.94 billion, a P/E ratio of 49.31 and a beta of 1.83. The business’s 50-day moving average price is $314.08 and its 200-day moving average price is $237.36.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly 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. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. Celestica’s revenue for the quarter was up 27.8% on a year-over-year basis. As a group, sell-side analysts expect 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 purchased 6,000 shares of the stock in a transaction on Thursday, October 30th. The shares were acquired at an average price of $341.67 per share, with a total value of $2,050,020.00. Following the completion of the acquisition, the director directly owned 6,000 shares of the company’s stock, valued at $2,050,020. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Celestica by 2.1% during the third quarter. Vanguard Group Inc. now owns 4,738,673 shares of the technology company’s stock valued at $1,166,093,000 after acquiring an additional 97,755 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Celestica by 471.5% during the third 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 in the last quarter. Franklin Resources Inc. raised its stake in Celestica by 4.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,921,417 shares of the technology company’s stock valued at $473,386,000 after purchasing an additional 88,212 shares during the period. Voya Investment Management LLC lifted its holdings in 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. boosted its stake 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 purchasing an additional 259,504 shares during the period. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Company Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.