Celestica (NYSE:CLS) Stock Price Down 4.4% – Should You Sell?

Celestica, Inc. (NYSE:CLS) (TSE:CLS)’s stock price fell 4.4% during mid-day trading on Tuesday . The stock traded as low as $303.23 and last traded at $304.4330. 3,568,660 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 3,970,052 shares. The stock had previously closed at $318.37.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CLS shares. UBS Group raised their target price on Celestica from $208.00 to $350.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Wall Street Zen raised shares of Celestica from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. BNP Paribas restated an “outperform” rating and set a $300.00 price objective on shares of Celestica in a research report on Thursday, September 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Celestica in a research note on Wednesday, October 8th. Finally, TD Cowen reissued a “hold” rating and issued a $238.00 price target on shares of Celestica in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $336.13.

Celestica Price Performance

The stock’s 50-day simple moving average is $292.04 and its 200 day simple moving average is $214.41. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.37. The company has a market cap of $35.01 billion, a price-to-earnings ratio of 49.42 and a beta of 1.85.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Monday, October 27th. The technology company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.13. Celestica had a net margin of 6.35% and a return on equity of 30.53%. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same period last year, the business earned $1.04 earnings per share. The business’s revenue for the quarter was up 27.8% on a year-over-year basis. On average, equities research analysts anticipate that Celestica, Inc. will post 4.35 EPS for the current fiscal year.

Insider Activity at Celestica

In other news, Director Laurette T. Koellner purchased 6,000 shares of the stock in a transaction dated Thursday, October 30th. The stock was acquired at an average cost of $341.67 per share, for a total transaction of $2,050,020.00. Following the completion of the transaction, the director directly owned 6,000 shares in the company, valued at approximately $2,050,020. This represents a ? increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Celestica

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CIBC Private Wealth Group LLC boosted its stake in shares of Celestica by 29.5% in the third quarter. CIBC Private Wealth Group LLC now owns 3,005 shares of the technology company’s stock valued at $740,000 after purchasing an additional 684 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in Celestica during the 3rd quarter worth approximately $946,000. Tcfg Wealth Management LLC acquired a new stake in Celestica during the 3rd quarter worth approximately $285,000. Coldstream Capital Management Inc. purchased a new position in Celestica in the 3rd quarter valued at approximately $213,000. Finally, Advisory Services Network LLC boosted its position in Celestica by 4.5% in the 3rd quarter. Advisory Services Network LLC now owns 29,264 shares of the technology company’s stock valued at $7,210,000 after buying an additional 1,263 shares during the period. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

About Celestica

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.