Celestica (NYSE:CLS) Stock Price Down 2.9%

Celestica Inc. (NYSE:CLS) (TSE:CLS) fell 2.9% on Thursday . The stock traded as low as $58.10 and last traded at $59.67. 927,065 shares were traded during mid-day trading, a decline of 58% from the average session volume of 2,223,715 shares. The stock had previously closed at $61.47.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CLS shares. Stifel Nicolaus increased their target price on Celestica from $48.00 to $51.00 and gave the stock a “hold” rating in a report on Monday, May 13th. CIBC increased their target price on Celestica from $49.00 to $58.00 and gave the company a “neutral” rating in a research report on Monday, May 27th. BMO Capital Markets boosted their price target on Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. Canaccord Genuity Group lifted their target price on shares of Celestica from $48.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada upped their price target on shares of Celestica from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Sunday, April 28th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.22.

Celestica Stock Performance

The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.78 and a current ratio of 1.42. The stock’s 50 day moving average price is $54.52 and its 200 day moving average price is $44.56. The company has a market capitalization of $7.07 billion, a P/E ratio of 22.93 and a beta of 2.31.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Celestica had a net margin of 3.86% and a return on equity of 18.25%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.10 billion. As a group, equities analysts expect that Celestica Inc. will post 2.87 EPS for the current year.

Institutional Trading of Celestica

Several hedge funds have recently modified their holdings of the stock. Principal Securities Inc. bought a new position in Celestica during the fourth quarter worth $42,000. Naples Money Management LLC boosted its position in shares of Celestica by 90.0% during the 2nd quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock worth $55,000 after purchasing an additional 450 shares in the last quarter. Byrne Asset Management LLC increased its position in Celestica by 78.6% in the 1st quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock valued at $56,000 after buying an additional 550 shares in the last quarter. UMB Bank n.a. acquired a new position in Celestica during the 1st quarter worth approximately $64,000. Finally, Blue Trust Inc. raised its stake in Celestica by 128.6% during the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock worth $72,000 after buying an additional 1,384 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.