Celestica (NYSE:CLS) Shares Down 5.5% – Time to Sell?

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) traded down 5.5% during trading on Wednesday . The stock traded as low as $306.21 and last traded at $310.5230. 984,240 shares traded hands during trading, a decline of 55% from the average session volume of 2,206,002 shares. The stock had previously closed at $328.56.

Analysts Set New Price Targets

Several research firms recently issued reports on CLS. Wall Street Zen downgraded shares of Celestica from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Royal Bank Of Canada boosted their target price on shares of Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. TD Securities raised their price target on Celestica from $238.00 to $305.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. TD Cowen reiterated a “hold” rating and issued a $238.00 price objective on shares of Celestica in a research note on Friday, October 3rd. Finally, Zacks Research downgraded Celestica from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $336.13.

Celestica Trading Down 0.0%

The firm has a market cap of $36.07 billion, a P/E ratio of 50.90 and a beta of 1.87. The company’s 50 day moving average is $311.14 and its two-hundred day moving average is $256.03. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.88.

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

Insiders Place Their Bets

In other Celestica news, Director Laurette T. Koellner purchased 6,000 shares of the stock in a transaction on Thursday, October 30th. The shares were purchased at an average price of $341.67 per share, with a total value of $2,050,020.00. Following the acquisition, the director directly owned 6,000 shares of the company’s stock, valued at $2,050,020. This represents a ? increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.52% of the stock is owned by corporate insiders.

Institutional Trading of Celestica

Institutional investors have recently made changes to their positions in the business. Perigon Wealth Management LLC raised its position in Celestica by 78.9% in the fourth quarter. Perigon Wealth Management LLC now owns 1,571 shares of the technology company’s stock worth $464,000 after purchasing an additional 693 shares in the last quarter. Balboa Wealth Partners bought a new stake in shares of Celestica in the 4th quarter valued at approximately $249,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Celestica in the 4th quarter worth approximately $380,000. Frank Rimerman Advisors LLC acquired a new position in shares of Celestica in the 4th quarter worth approximately $253,000. Finally, LeConte Wealth Management LLC lifted its position in shares of Celestica by 3.5% during the 4th quarter. LeConte Wealth Management LLC now owns 1,001 shares of the technology company’s stock worth $296,000 after buying an additional 34 shares during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Company Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.