Celestica (NYSE:CLS) Reaches New 12-Month Low – Time to Sell?

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) reached a new 52-week low during trading on Wednesday. The stock traded as low as $241.65 and last traded at $243.41, with a volume of 469,179 shares traded. The stock had previously closed at $259.94.

Analyst Ratings Changes

CLS has been the topic of several analyst reports. FBN Securities initiated coverage on shares of Celestica in a report on Tuesday, September 15th. They issued an “outperform” rating and a $375.00 target price on the stock. Canaccord Genuity Group increased their price target on shares of Celestica from $455.00 to $480.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Sanford C. Bernstein restated an “outperform” rating on shares of Celestica in a research report on Thursday, October 15th. Barclays lifted their price objective on Celestica from $406.00 to $414.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. Finally, The Goldman Sachs Group reiterated a “conviction-buy” rating and set a $435.00 target price on shares of Celestica in a research report on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $453.32.

Celestica Stock Performance

The company has a current ratio of 1.61, a quick ratio of 1.03 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $29.79 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 0.63 and a beta of 2.10. The stock’s 50 day moving average price is $322.97 and its two-hundred day moving average price is $330.63.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Monday, October 26th. The technology company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.28. Celestica had a net margin of 6.83% and a return on equity of 33.80%. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.39 billion. On average, analysts forecast that Celestica, Inc. will post 11.55 EPS for the current year.

Insider Activity

In other news, CEO Robert Mionis sold 23,496 shares of Celestica stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $362.39, for a total transaction of $8,514,715.44. Following the completion of the sale, the chief executive officer directly owned 23,396 shares in the company, valued at approximately $8,478,476.44. This trade represents a 50.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Todd C. Cooper sold 20,118 shares of the business’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $360.00, for a total value of $7,242,480.00. Following the sale, the president directly owned 73,252 shares in the company, valued at $26,370,720. This trade represents a 21.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 67,010 shares of company stock worth $24,278,487 over the last 90 days. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Celestica

Hedge funds have recently bought and sold shares of the company. Elite Wealth Management Inc. grew its holdings in Celestica by 19.6% in the third quarter. Elite Wealth Management Inc. now owns 19,913 shares of the technology company’s stock valued at $7,197,000 after purchasing an additional 3,265 shares during the last quarter. M Holdings Securities Inc. acquired a new position in shares of Celestica during the 3rd quarter worth $708,000. Ethic Inc. raised its stake in shares of Celestica by 24.6% during the 3rd quarter. Ethic Inc. now owns 4,217 shares of the technology company’s stock worth $1,524,000 after buying an additional 833 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Celestica by 94.4% during the 3rd quarter. Pictet Asset Management Holding SA now owns 1,068,473 shares of the technology company’s stock worth $386,578,000 after buying an additional 518,798 shares during the last quarter. Finally, Plancorp LLC purchased a new stake in shares of Celestica in the 3rd quarter worth about $380,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

About Celestica

Celestica Inc is a global provider of design, manufacturing, and supply chain solutions for original equipment manufacturers and other technology companies. The company helps customers develop, produce, and support complex hardware and integrated systems across their product life cycles.

Its services include product design and engineering, electronics and mechanical manufacturing, systems integration, testing, supply chain management, logistics, and after-market support. Celestica serves markets such as communications, enterprise and cloud computing, aerospace and defense, industrial technology, health technology, and capital equipment.

Headquartered in Toronto, Canada, Celestica operates a global network of manufacturing, engineering, and supply chain facilities serving customers in North America, Europe, and Asia.