Celestica (NYSE:CLS) Stock Price Down 2.6%

Celestica Inc. (NYSE:CLSGet Free Report) (TSE:CLS) dropped 2.6% during mid-day trading on Friday . The stock traded as low as $54.60 and last traded at $55.28. Approximately 441,592 shares were traded during trading, a decline of 81% from the average daily volume of 2,280,324 shares. The stock had previously closed at $56.77.

Analyst Upgrades and Downgrades

A number of equities 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 research note on Monday, May 13th. Fox Advisors initiated coverage on Celestica in a report on Wednesday, May 15th. They issued an “overweight” rating and a $60.00 target price on the stock. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a research report on Friday, May 24th. Canaccord Genuity Group upped 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. Finally, CIBC lifted their price objective on Celestica from $49.00 to $58.00 and gave the stock a “neutral” rating in a research report on Monday, May 27th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $45.56.

Read Our Latest Analysis on CLS

Celestica Stock Down 2.2 %

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 firm has a 50 day moving average price of $49.67 and a two-hundred day moving average price of $40.54. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 20.63 and a beta of 2.28.

Celestica (NYSE:CLSGet Free Report) (TSE:CLS) last released its earnings results on Wednesday, April 24th. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. The company 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%. As a group, sell-side analysts expect that Celestica Inc. will post 2.87 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale bought a new position in shares of Celestica during the first quarter worth about $110,000. Cetera Advisors LLC bought a new stake in shares of Celestica during the first quarter valued at approximately $367,000. Invst LLC acquired a new position in shares of Celestica during the first quarter worth approximately $206,000. Janus Henderson Group PLC bought a new position in Celestica in the 1st quarter worth approximately $1,040,000. Finally, Bayesian Capital Management LP acquired a new position in Celestica during the 1st quarter worth $1,659,000. 67.38% of the stock is currently owned by institutional investors.

Celestica Company Profile

(Get Free Report)

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.

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