Celestica (NYSE:CLS) Shares Down 4.8% – What’s Next?

Celestica, Inc. (NYSE:CLS) (TSE:CLS) shares were down 4.8% during mid-day trading on Tuesday . The stock traded as low as $286.25 and last traded at $288.3940. Approximately 2,711,468 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 3,904,750 shares. The stock had previously closed at $302.98.

Wall Street Analyst Weigh In

CLS has been the subject of several recent analyst reports. New Street Research set a $400.00 price objective on shares of Celestica in a research report on Wednesday, October 29th. TD Cowen reissued a “hold” rating and set a $238.00 target price on shares of Celestica in a research note on Friday, October 3rd. Citigroup raised shares of Celestica from a “neutral” rating to a “buy” rating and lifted their price target for the company from $212.00 to $375.00 in a research note on Monday, November 10th. Stifel Nicolaus reiterated a “buy” rating and set a $385.00 price objective (up previously from $230.00) on shares of Celestica in a report on Wednesday, October 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Celestica in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $336.13.

Celestica Stock Down 4.8%

The company has a market cap of $33.17 billion, a price-to-earnings ratio of 46.82 and a beta of 1.83. 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’s fifty day moving average is $308.09 and its two-hundred day moving average is $229.14.

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 analysts’ consensus estimates of $1.45 by $0.13. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.01 billion. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The company’s quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.04 EPS. Sell-side analysts predict that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Transactions at Celestica

In related news, Director Laurette T. Koellner purchased 6,000 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was 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 of the company’s stock, valued at $2,050,020. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.52% of the company’s stock.

Institutional Trading of Celestica

Several institutional investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted 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 valued at $775,133,000 after purchasing an additional 2,596,318 shares in the last quarter. Viking Global Investors LP purchased a new stake in Celestica in the 3rd quarter valued at about $424,459,000. Norges Bank bought a new position in shares of Celestica during the 2nd quarter worth approximately $236,069,000. Voya Investment Management LLC lifted its position in shares of Celestica by 362.8% during 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 purchased a new position in shares of Celestica in the 1st quarter worth approximately $96,936,000. 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.