Celestica (NYSE:CLS) Stock Price Down 5.9% – Time to Sell?

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) fell 5.9% during trading on Thursday . The company traded as low as $285.44 and last traded at $287.8580. 685,313 shares changed hands during trading, a decline of 66% from the average session volume of 1,987,838 shares. The stock had previously closed at $305.87.

Analyst Ratings Changes

A number of analysts have issued reports on CLS shares. TD Securities lifted their price target on Celestica from $238.00 to $305.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. Zacks Research downgraded shares of Celestica from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. BNP Paribas restated an “outperform” rating and set a $300.00 target price on shares of Celestica in a research report on Thursday, September 25th. Citigroup raised Celestica from a “neutral” rating to a “buy” rating and raised their price target for the stock from $212.00 to $375.00 in a report on Monday, November 10th. Finally, Wall Street Zen downgraded shares of Celestica from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $336.13.

Celestica Trading Up 4.7%

The firm has a market cap of $34.75 billion, a PE ratio of 49.03 and a beta of 1.87. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.88. The business has a 50-day moving average price of $313.60 and a two-hundred day moving average price of $250.29.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.13. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The firm’s revenue was up 27.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.04 EPS. Analysts forecast that Celestica, Inc. will post 4.35 EPS for the current year.

Insiders Place Their Bets

In related news, Director Laurette T. Koellner purchased 6,000 shares of the company’s stock in a transaction on Thursday, October 30th. The stock was bought at an average price of $341.67 per share, with a total value of $2,050,020.00. Following the completion of the transaction, the director owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Celestica

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp lifted 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 purchasing an additional 22,452 shares during the period. Thompson Davis & CO. Inc. bought a new position in shares of Celestica during the 2nd quarter worth approximately $328,000. Y Intercept Hong Kong Ltd boosted its stake in Celestica by 406.3% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 52,606 shares of the technology company’s stock valued at $8,212,000 after buying an additional 42,215 shares in the last quarter. Fortis Capital Advisors LLC bought a new stake in Celestica in the second quarter valued at $343,000. Finally, Light Street Capital Management LLC acquired a new position in Celestica during the second quarter worth $26,422,000. 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.