Celestica (NYSE:CLS) Shares Gap Down to $43.81

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $43.81, but opened at $42.87. Celestica shares last traded at $43.38, with a volume of 324,637 shares trading hands.

Analyst Upgrades and Downgrades

CLS has been the subject of several recent analyst reports. BMO Capital Markets upped their price objective on shares of Celestica from $32.00 to $37.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. CIBC increased their price target on shares of Celestica from $33.00 to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. StockNews.com downgraded shares of Celestica from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Canaccord Genuity Group increased their price target on shares of Celestica from $32.50 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Finally, TD Securities increased their price target on shares of Celestica from $33.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.88.

Celestica Trading Down 5.8 %

The stock’s fifty day moving average price is $44.06 and its 200 day moving average price is $33.62. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.41. The stock has a market cap of $4.92 billion, a PE ratio of 20.46 and a beta of 2.22.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Celestica had a net margin of 3.07% and a return on equity of 17.09%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.08 billion. On average, sell-side analysts forecast that Celestica Inc. will post 2.59 EPS for the current year.

Institutional Investors Weigh In On Celestica

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clearstead Advisors LLC purchased a new stake in Celestica in the third quarter worth approximately $32,000. Financial Management Professionals Inc. bought a new position in Celestica in the third quarter worth approximately $34,000. Principal Securities Inc. bought a new position in Celestica in the fourth quarter worth approximately $42,000. Advisor Group Holdings Inc. raised its position in Celestica by 2,775.7% in the fourth quarter. Advisor Group Holdings Inc. now owns 3,911 shares of the technology company’s stock worth $44,000 after acquiring an additional 3,775 shares during the period. Finally, UniSuper Management Pty Ltd bought a new stake in shares of Celestica during the 2nd quarter valued at $56,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Company Profile

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.