Celestica (NYSE:CLS) Trading Down 2.7% - Time to Sell?

Celestica, Inc. (NYSE:CLS - Get Free Report) TSE: CLS shares traded down 2.7% during mid-day trading on Friday . The company traded as low as $160.24 and last traded at $158.55. 173,194 shares changed hands during trading, a decline of 95% from the average session volume of 3,395,004 shares. The stock had previously closed at $162.89.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Celestica from $115.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday. CIBC cut their target price on shares of Celestica from $150.00 to $120.00 and set an "outperformer" rating for the company in a report on Tuesday, April 15th. Wall Street Zen lowered shares of Celestica from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Barclays reissued an "overweight" rating and issued a $146.00 target price (up from $126.00) on shares of Celestica in a report on Tuesday, June 10th. Finally, BNP Paribas raised shares of Celestica to a "strong-buy" rating in a report on Wednesday, June 11th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Celestica has an average rating of "Buy" and an average target price of $121.64.

Celestica Price Performance

The company has a debt-to-equity ratio of 0.59, a current ratio of 1.43 and a quick ratio of 0.85. The stock's fifty day moving average is $134.34 and its 200-day moving average is $111.09. The stock has a market cap of $18.41 billion, a PE ratio of 44.12 and a beta of 1.81.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last announced its quarterly earnings data on Thursday, April 24th. The technology company reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.10. Celestica had a net margin of 4.26% and a return on equity of 25.57%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the firm posted $0.83 earnings per share. Celestica's quarterly revenue was up 19.9% on a year-over-year basis. As a group, equities analysts anticipate that Celestica, Inc. will post 4.35 EPS for the current year.

Institutional Investors Weigh In On Celestica

A number of hedge funds have recently modified their holdings of CLS. Rothschild Investment LLC acquired a new stake in shares of Celestica during the 1st quarter worth about $26,000. ORG Partners LLC acquired a new stake in shares of Celestica during the 1st quarter worth about $29,000. Center for Financial Planning Inc. acquired a new stake in shares of Celestica during the 1st quarter worth about $30,000. Pinpoint Asset Management Ltd increased its position in shares of Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock worth $32,000 after purchasing an additional 182 shares during the last quarter. Finally, ST Germain D J Co. Inc. acquired a new stake in shares of Celestica during the 2nd quarter worth about $37,000. Hedge funds and other institutional investors 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.