Celestica (NYSE:CLS) Trading Down 2.6%

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price fell 2.6% during mid-day trading on Friday . The company traded as low as $53.22 and last traded at $54.37. 725,309 shares were traded during mid-day trading, a decline of 68% from the average session volume of 2,285,482 shares. The stock had previously closed at $55.80.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CLS. CIBC boosted their price objective 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 objective on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. Canaccord Genuity Group boosted their price objective on Celestica from $48.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, April 26th. StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a research report on Friday, May 24th. Finally, Fox Advisors began coverage on Celestica in a research report on Wednesday, May 15th. They issued an “overweight” rating and a $60.00 price objective for the company. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and an average price target of $47.22.

Celestica Price Performance

The company has a quick ratio of 0.78, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $6.64 billion, a PE ratio of 20.86 and a beta of 2.28. The company has a 50-day moving average of $50.87 and a 200 day moving average of $41.90.

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, topping the consensus estimate of $0.64 by $0.02. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Celestica had a return on equity of 18.25% and a net margin of 3.86%. Sell-side analysts predict that Celestica Inc. will post 2.87 EPS for the current year.

Institutional Trading of Celestica

Several large investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP grew its holdings in Celestica by 0.6% in the 3rd quarter. Trexquant Investment LP now owns 88,491 shares of the technology company’s stock valued at $2,170,000 after buying an additional 502 shares in the last quarter. Byrne Asset Management LLC grew its holdings 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. Guardian Capital Advisors LP grew its holdings in Celestica by 8.5% in the 4th quarter. Guardian Capital Advisors LP now owns 8,770 shares of the technology company’s stock valued at $256,000 after buying an additional 685 shares in the last quarter. Blue Trust Inc. grew its holdings in Celestica by 128.6% in the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock valued at $72,000 after buying an additional 1,384 shares in the last quarter. Finally, UMB Bank n.a. acquired a new position in shares of Celestica in the 1st quarter valued at $64,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

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.