Celestica (NYSE:CLS) Stock Price Down 2.5%

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS shares fell 2.5% on Tuesday . The stock traded as low as $48.02 and last traded at $48.18. 141,143 shares changed hands during trading, a decline of 94% from the average session volume of 2,184,086 shares. The stock had previously closed at $49.43.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. TD Securities raised their target price on shares of Celestica from $33.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, January 31st. CIBC lifted their price objective on Celestica from $33.00 to $41.00 and gave the stock an "outperform" rating in a report on Wednesday, January 31st. BMO Capital Markets increased their target price on Celestica from $32.00 to $37.00 and gave the company an "outperform" rating in a report on Wednesday, January 31st. StockNews.com downgraded Celestica from a "buy" rating to a "hold" rating in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada upped their price target on shares of Celestica from $33.00 to $38.00 and gave the company an "outperform" rating in a research report on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $33.88.

Celestica Price Performance

The firm has a 50 day moving average price of $42.83 and a 200 day moving average price of $32.70. The stock has a market cap of $5.61 billion, a P/E ratio of 23.18 and a beta of 2.22. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.41.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted its quarterly earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.08. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.08 billion. Celestica had a net margin of 3.07% and a return on equity of 17.09%. On average, analysts forecast that Celestica Inc. will post 2.59 EPS for the current fiscal year.

Institutional Trading of Celestica

Institutional investors have recently made changes to their positions in the business. Clearstead Advisors LLC purchased a new stake in Celestica in the 3rd quarter worth $32,000. Financial Management Professionals Inc. bought a new position in Celestica during the third quarter valued at approximately $34,000. Principal Securities Inc. purchased a new position in Celestica during the 4th quarter valued at approximately $42,000. Blue Trust Inc. increased its stake in Celestica by 128.6% in the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the technology company's stock worth $72,000 after acquiring an additional 1,384 shares during the last quarter. Finally, US Bancorp DE bought a new stake in Celestica in the 4th quarter worth approximately $74,000. 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.