Celestica (NYSE:CLS) Hits New 12-Month Low on Analyst Downgrade

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price reached a new 52-week low during trading on Wednesday after Argus lowered their price target on the stock from $150.00 to $120.00. Argus currently has a buy rating on the stock. Celestica traded as low as $81.88 and last traded at $85.36, with a volume of 3302700 shares trading hands. The stock had previously closed at $87.05.

A number of other analysts also recently weighed in on the company. Barclays decreased their price target on Celestica from $157.00 to $126.00 and set an “overweight” rating for the company in a report on Monday. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on Celestica from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday. Royal Bank of Canada restated an “outperform” rating and set a $120.00 price target on shares of Celestica in a report on Monday. Finally, TD Securities lifted their price objective on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $105.42.

Insider Activity

In other news, CEO Robert Mionis sold 52,588 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $6,707,073.52. Following the completion of the sale, the chief executive officer now owns 531,417 shares in the company, valued at $67,776,924.18. This represents a 9.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Yann L. Etienvre sold 9,181 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,170,944.74. Following the transaction, the insider now directly owns 83,179 shares in the company, valued at $10,608,649.66. The trade was a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 934,381 shares of company stock worth $116,673,769 over the last three months. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Celestica

Institutional investors have recently modified their holdings of the business. State Street Corp purchased a new position in Celestica in the third quarter worth $452,000. Barclays PLC boosted its holdings in shares of Celestica by 151.3% in the 3rd quarter. Barclays PLC now owns 51,848 shares of the technology company’s stock worth $2,651,000 after buying an additional 31,219 shares during the last quarter. Geode Capital Management LLC grew its position in Celestica by 8.6% during the third quarter. Geode Capital Management LLC now owns 109,915 shares of the technology company’s stock valued at $6,236,000 after buying an additional 8,660 shares during the period. Invst LLC increased its holdings in Celestica by 24.0% during the third quarter. Invst LLC now owns 10,069 shares of the technology company’s stock worth $515,000 after buying an additional 1,948 shares during the last quarter. Finally, World Investment Advisors LLC bought a new stake in Celestica in the third quarter worth about $4,003,000. 67.38% of the stock is owned by institutional investors.

Celestica Trading Down 1.9 %

The firm’s 50-day simple moving average is $86.90 and its 200 day simple moving average is $92.58. The firm has a market cap of $9.90 billion, a P/E ratio of 22.82 and a beta of 2.09. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Celestica had a net margin of 4.61% and a return on equity of 23.34%. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the firm posted $0.83 EPS. Celestica’s revenue was up 19.9% on a year-over-year basis. As a group, analysts expect that Celestica Inc. will post 4.35 earnings per share for the current year.

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.