Celestica (NYSE:CLS) Trading Down 1.2% – Here’s Why

Celestica, Inc. (NYSE:CLS) (TSE:CLS)’s share price was down 1.2% on Wednesday . The company traded as low as $295.28 and last traded at $295.88. Approximately 954,329 shares changed hands during trading, a decline of 75% from the average daily volume of 3,831,238 shares. The stock had previously closed at $299.40.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CLS. Citigroup upgraded shares of Celestica from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $212.00 to $375.00 in a research note on Monday, November 10th. New Street Research set a $400.00 price target on Celestica in a report on Wednesday, October 29th. BNP Paribas reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Celestica in a report on Thursday, September 25th. Zacks Research downgraded Celestica from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, BMO Capital Markets set a $370.00 price target on shares of Celestica and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $336.13.

Celestica Trading Down 1.2%

The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $34.04 billion, a price-to-earnings ratio of 48.03 and a beta of 1.83. The business has a 50 day simple moving average of $315.90 and a 200-day simple moving average of $242.66.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Monday, October 27th. The technology company reported $1.58 earnings per share 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 for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the previous year, the company posted $1.04 EPS. The company’s revenue was up 27.8% compared to the same quarter last year. On average, equities analysts predict that Celestica, Inc. will post 4.35 earnings per share for the current year.

Insider Buying and Selling at Celestica

In other news, Director Laurette T. Koellner purchased 6,000 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The shares were acquired at an average cost of $341.67 per share, with a total value of $2,050,020.00. Following the transaction, the director owned 6,000 shares in the company, valued at approximately $2,050,020. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.52% of the company’s stock.

Institutional Trading of Celestica

Institutional investors and hedge funds have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership increased its holdings in shares of Celestica by 471.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,146,928 shares of the technology company’s stock worth $775,133,000 after acquiring an additional 2,596,318 shares during the period. Viking Global Investors LP bought a new stake in shares of Celestica during the third quarter valued at approximately $424,459,000. Norges Bank acquired a new position in shares of Celestica during the second quarter worth approximately $236,069,000. Voya Investment Management LLC grew 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 buying an additional 1,453,473 shares in the last quarter. Finally, Alkeon Capital Management LLC acquired a new stake in Celestica in the 1st quarter valued at approximately $96,936,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.