Celestica (NYSE:CLS) Stock Price Down 1.9% – Should You Sell?

Celestica, Inc. (NYSE:CLS) (TSE:CLS) shares were down 1.9% during trading on Thursday . The company traded as low as $266.06 and last traded at $270.47. Approximately 3,077,864 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 3,906,850 shares. The stock had previously closed at $275.83.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Celestica from $340.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. New Street Research set a $400.00 price objective on shares of Celestica in a research report on Wednesday, October 29th. JPMorgan Chase & Co. boosted their price objective on shares of Celestica from $295.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. TD Securities increased their target price on Celestica from $238.00 to $305.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. Finally, Barclays boosted their price target on Celestica from $357.00 to $359.00 and gave the company an “overweight” rating in a report on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Celestica currently has an average rating of “Moderate Buy” and an average price target of $336.13.

Celestica Stock Up 8.1%

The firm has a 50-day moving average of $310.69 and a 200 day moving average of $232.17. 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 stock has a market capitalization of $33.69 billion, a price-to-earnings ratio of 47.55 and a beta of 1.83.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.13. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.01 billion. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The business’s quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.04 EPS. As a group, sell-side analysts forecast that Celestica, Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Transactions at Celestica

In other Celestica news, Director Laurette T. Koellner purchased 6,000 shares of the stock in a transaction on Thursday, October 30th. The shares were purchased 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 directly owned 6,000 shares in the company, valued at $2,050,020. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLS. Golden State Wealth Management LLC lifted its holdings in shares of Celestica by 102.5% during the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock worth $26,000 after buying an additional 83 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Celestica by 42.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock worth $31,000 after purchasing an additional 37 shares in the last quarter. First Horizon Corp bought a new stake in Celestica in the 3rd quarter valued at about $31,000. ST Germain D J Co. Inc. acquired a new position in shares of Celestica during the 2nd quarter worth approximately $37,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Celestica in the second quarter valued at approximately $40,000. 67.38% of the stock is owned by institutional investors and hedge funds.

About Celestica

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.