Celestica (NYSE:CLS) Stock Price Down 2.4% – Time to Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price fell 2.4% on Wednesday . The stock traded as low as $59.53 and last traded at $59.63. 677,696 shares were traded during trading, a decline of 70% from the average session volume of 2,226,314 shares. The stock had previously closed at $61.11.

Wall Street Analyst Weigh In

CLS has been the topic of a number of analyst reports. TD Securities lifted their target price on Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Stifel Nicolaus raised shares of Celestica from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Monday, September 9th. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Canaccord Genuity Group upped their price objective on Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada lifted their price objective on shares of Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Celestica currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.88.

Celestica Trading Down 0.6 %

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.86. The firm’s fifty day moving average price is $51.34 and its 200-day moving average price is $51.74. The company has a market cap of $6.87 billion, a price-to-earnings ratio of 21.71 and a beta of 2.28.

Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.10. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.25 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. Celestica’s revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. On average, equities analysts expect that Celestica Inc. will post 3.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CLS. Vanguard Group Inc. grew its position in Celestica by 15.2% in the 4th quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock valued at $124,924,000 after buying an additional 562,157 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Celestica by 12.2% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 16,529 shares of the technology company’s stock valued at $484,000 after acquiring an additional 1,800 shares in the last quarter. Ausbil Investment Management Ltd acquired a new position in shares of Celestica during the first quarter valued at approximately $1,597,000. Oliver Luxxe Assets LLC bought a new stake in Celestica during the first quarter worth approximately $3,248,000. Finally, Principal Financial Group Inc. bought a new stake in Celestica during the first quarter worth approximately $22,669,000. 67.38% of the stock is owned by institutional investors and hedge funds.

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.