Insider Selling: Celestica Inc. (NYSE:CLS) President Sells 91,490 Shares of Stock

Celestica Inc. (NYSE:CLS) (TSE:CLS) President Todd C. Cooper sold 91,490 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $122.28, for a total transaction of $11,187,397.20. Following the completion of the transaction, the president now owns 175,426 shares in the company, valued at $21,451,091.28. The trade was a 34.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Celestica Stock Up 8.8 %

Shares of CLS stock traded up $11.55 during mid-day trading on Wednesday, reaching $143.53. 8,448,756 shares of the company were exchanged, compared to its average volume of 5,105,531. The company has a market capitalization of $16.70 billion, a P/E ratio of 38.38 and a beta of 2.27. The business’s 50 day simple moving average is $100.10 and its 200 day simple moving average is $73.34. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica Inc. has a fifty-two week low of $35.56 and a fifty-two week high of $144.27.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. 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. BMO Capital Markets lifted their price objective on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. CIBC upgraded shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective on the stock in a research note on Friday, January 31st. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada lifted their price objective on shares of Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.27.

Hedge Funds Weigh In On Celestica

A number of hedge funds have recently added to or reduced their stakes in the business. Chase Investment Counsel Corp acquired a new position in Celestica in the fourth quarter worth $660,000. SVB Wealth LLC acquired a new position in Celestica in the fourth quarter worth $478,000. Oppenheimer & Co. Inc. boosted its holdings in Celestica by 42.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 16,450 shares of the technology company’s stock worth $1,518,000 after purchasing an additional 4,874 shares during the period. Bank of New York Mellon Corp boosted its holdings in Celestica by 31.4% in the fourth quarter. Bank of New York Mellon Corp now owns 99,347 shares of the technology company’s stock worth $9,170,000 after purchasing an additional 23,725 shares during the period. Finally, IFP Advisors Inc boosted its holdings in Celestica by 122.7% in the fourth quarter. IFP Advisors Inc now owns 668 shares of the technology company’s stock worth $62,000 after purchasing an additional 368 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.