Celestica (NYSE:CLS) Stock Price Down 0.6%

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price traded down 0.6% during trading on Monday . The stock traded as low as $55.34 and last traded at $55.35. 631,575 shares changed hands during trading, a decline of 72% from the average session volume of 2,277,865 shares. The stock had previously closed at $55.71.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Stifel Nicolaus raised their price target on Celestica from $48.00 to $51.00 and gave the company a “hold” rating in a research note on Monday, May 13th. CIBC raised their price target on Celestica from $49.00 to $58.00 and gave the company a “neutral” rating in a research note on Monday, May 27th. Canaccord Genuity Group lifted their target price on Celestica from $48.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, April 26th. StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a research note on Friday, May 24th. Finally, BMO Capital Markets lifted their target price on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.22.

Celestica Price Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.78. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 22.05 and a beta of 2.28. The stock has a fifty day moving average of $50.19 and a 200 day moving average of $41.37.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. Celestica had a return on equity of 18.25% and a net margin of 3.86%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.10 billion. On average, analysts expect that Celestica Inc. will post 2.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Celestica

Hedge funds have recently bought and sold shares of the stock. Byrne Asset Management LLC boosted its position in Celestica by 78.6% in the 1st quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock worth $56,000 after purchasing an additional 550 shares in the last quarter. Clearstead Advisors LLC purchased a new stake in Celestica in the 3rd quarter worth approximately $32,000. UMB Bank n.a. acquired a new position in shares of Celestica during the 1st quarter worth approximately $64,000. Principal Securities Inc. acquired a new position in shares of Celestica during the 4th quarter worth approximately $42,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Celestica during the 1st quarter worth approximately $110,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.