Shares of Celestica (NYSE:CLS) fell 4.5%

The shares of Celestica Inc. (NYSE:CLS – Get Free Report ) (TSE:CLS) fell 4.5% on Friday. The stock traded as high as $43.47 and last traded at $43.82. During trading, 604,940 shares were traded, down 73% from the session’s average volume of 2,267,014 shares. Shares previously closed at $45.90.

Analyst upgrades and downgrades

A number of equities research analysts have recently issued reports on CLS shares. Royal Bank of Canada raised their target price 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 began coverage on shares of Celestica in a research report on Wednesday, May 15th. They issued an “overweight” rating and a $60.00 price target on the stock. BMO Capital Markets boosted their target price 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 price target of $58.38.

Get the latest report on CLS

Celestica trades down 10.6%

The firm has a market cap 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 – Get Your Free Report ) (TSE:CLS) last posted 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 company’s revenue for the quarter was up 23.3% compared to the same quarter last year. In the same quarter last year, the company posted earnings of $0.55 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 affect Celestica

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cim LLC purchased a new position in Celestica in the second quarter valued at $1,343,000. Sanctuary Advisors LLC purchased a new position in shares of Celestica in the second quarter valued at $2,140,000. Maven Securities LTD purchased a new position in shares of Celestica in the second quarter valued at $258,000. Cetera Investment Advisers boosted its stake in Celestica by 119.5% in the second 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 boosted its stake in 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 buying an additional 214 shares shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s shares.

About Celestica

(Get a free report)

Celestica Inc provides supply chain solutions in North America, Europe and Asia. It operates through two segments: Advanced Technology Solutions and Connectivity and Cloud Solutions. The company offers a wide range of product manufacturing and 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 aftermarket repair and return services.

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