Celestica (NYSE:CLS) Stock Price Down 5.3% – What’s Next?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price fell 5.3% on Friday . The stock traded as low as $86.44 and last traded at $86.59. 1,404,336 shares traded hands during trading, a decline of 39% from the average session volume of 2,290,021 shares. The stock had previously closed at $91.44.

Analyst Upgrades and Downgrades

CLS has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price target on Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Barclays started coverage on Celestica in a research note on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price target on the stock. CIBC increased their price objective on shares of Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada raised their price target on Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Celestica has a consensus rating of “Moderate Buy” and an average target price of $71.45.

Celestica Stock Performance

The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average price is $64.09 and its 200 day moving average price is $56.94. The company has a market cap of $10.32 billion, a price-to-earnings ratio of 28.12 and a beta of 2.24.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.93 by $0.11. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The company’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 EPS. On average, analysts expect that Celestica Inc. will post 3.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Celestica

Several institutional investors and hedge funds have recently bought and sold shares of CLS. Optimum Investment Advisors increased its stake in Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Financial Management Professionals Inc. acquired a new stake in Celestica in the 3rd quarter valued at about $30,000. UMB Bank n.a. bought a new stake in Celestica in the 3rd quarter valued at $34,000. Wolff Wiese Magana LLC raised its position in shares of Celestica by 32.1% in the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock valued at $40,000 after purchasing an additional 170 shares during the period. Finally, Private Trust Co. NA raised its holdings in Celestica by 480.0% in the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after acquiring an additional 720 shares during the period. 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.