Celestica (NYSE:CLS) Shares Down 4.5%

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) fell 4.5% on Friday . The stock traded as low as $43.47 and last traded at $43.82. 604,940 shares were traded during trading, a decline of 73% from the average session volume of 2,267,014 shares. The stock had previously closed at $45.90.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CLS shares. Royal Bank of Canada lifted their price target on shares of Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Fox Advisors started coverage on shares of Celestica in a research report on Wednesday, May 15th. They issued an “overweight” rating and a $60.00 target price on the stock. BMO Capital Markets upped their price target on shares of Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. Stifel Nicolaus boosted their price objective on Celestica from $51.00 to $58.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.38.

Celestica Trading Down 10.6 %

The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 15.31 and a beta of 2.29. The company has a fifty day moving average price of $53.03 and a two-hundred day moving average price of $50.27. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.25 billion. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share. As a group, research analysts forecast that Celestica Inc. will post 3.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Celestica

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cim LLC acquired a new position in Celestica during the second quarter worth $1,343,000. Sanctuary Advisors LLC acquired a new position in shares of Celestica in the 2nd quarter valued at $2,140,000. Maven Securities LTD acquired a new position in shares of Celestica in the 2nd quarter valued at $258,000. Cetera Investment Advisers lifted its stake in shares of Celestica by 119.5% in the 2nd quarter. Cetera Investment Advisers now owns 26,271 shares of the technology company’s stock valued at $1,504,000 after purchasing an additional 14,305 shares during the last quarter. Finally, Truist Financial Corp lifted its stake in shares of Celestica by 2.0% in the 2nd quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock valued at $631,000 after purchasing an additional 214 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.