Celestica (NYSE:CLS) Reaches New 12-Month Low – Time to Sell?

Celestica, Inc. (NYSE:CLS) (TSE:CLS) shares hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $241.65 and last traded at $243.41, with a volume of 469,179 shares traded. The stock had previously closed at $259.94.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Celestica from $445.00 to $485.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Bank of America reaffirmed a “buy” rating on shares of Celestica in a research note on Wednesday, July 29th. The Goldman Sachs Group reiterated a “conviction-buy” rating and set a $435.00 price target on shares of Celestica in a report on Wednesday, October 28th. Canadian Imperial Bank of Commerce increased their price objective on shares of Celestica from $480.00 to $500.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Finally, BWS Financial reissued a “buy” rating on shares of Celestica in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $453.32.

Celestica Stock Performance

The firm has a market capitalization of $29.79 billion, a P/E ratio of 22.33, a P/E/G ratio of 0.63 and a beta of 2.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.61 and a quick ratio of 1.03. The firm has a 50-day moving average price of $322.97 and a two-hundred day moving average price of $330.63.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Monday, October 26th. The technology company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.28. The firm had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.39 billion. Celestica had a net margin of 6.83% and a return on equity of 33.80%. On average, analysts forecast that Celestica, Inc. will post 11.55 EPS for the current fiscal year.

Insider Activity

In other news, CEO Robert Mionis sold 23,496 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $362.39, for a total value of $8,514,715.44. Following the completion of the sale, the chief executive officer owned 23,396 shares in the company, valued at approximately $8,478,476.44. The trade was a 50.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Todd C. Cooper sold 20,118 shares of the company’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $360.00, for a total transaction of $7,242,480.00. Following the completion of the sale, the president directly owned 73,252 shares of the company’s stock, valued at $26,370,720. The trade was a 21.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 67,010 shares of company stock worth $24,278,487. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Celestica

Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC purchased a new position in Celestica during the 1st quarter worth approximately $68,952,000. Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Celestica during the third quarter worth approximately $27,821,000. K.J. Harrison & Partners Inc purchased a new stake in shares of Celestica during the second quarter worth approximately $1,092,000. Quantinno Capital Management LP lifted its holdings in shares of Celestica by 73.7% during the first quarter. Quantinno Capital Management LP now owns 23,954 shares of the technology company’s stock worth $6,746,000 after purchasing an additional 10,164 shares during the period. Finally, Ninepoint Partners LP acquired a new stake in shares of Celestica during the second quarter worth $2,880,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

About Celestica

Celestica Inc is a global provider of design, manufacturing, and supply chain solutions for original equipment manufacturers and other technology companies. The company helps customers develop, produce, and support complex hardware and integrated systems across their product life cycles.

Its services include product design and engineering, electronics and mechanical manufacturing, systems integration, testing, supply chain management, logistics, and after-market support. Celestica serves markets such as communications, enterprise and cloud computing, aerospace and defense, industrial technology, health technology, and capital equipment.

Headquartered in Toronto, Canada, Celestica operates a global network of manufacturing, engineering, and supply chain facilities serving customers in North America, Europe, and Asia.