Celestica (NYSE:CLS) Shares Gap Down – Should You Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $123.47, but opened at $110.80. Celestica shares last traded at $122.68, with a volume of 3,335,296 shares.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CLS shares. Royal Bank of Canada increased their price target on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday. UBS Group began coverage on Celestica in a research report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target on the stock. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday. Stifel Nicolaus upped their target price on Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, BMO Capital Markets upped their target price on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.64.

Celestica Price Performance

The company has a 50 day moving average price of $98.48 and a 200-day moving average price of $72.36. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The company has a market cap of $14.27 billion, a price-to-earnings ratio of 32.82 and a beta of 2.25.

Insider Buying and Selling at Celestica

In related news, Director Michael Wilson sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $98.73, for a total value of $2,468,250.00. Following the sale, the director now directly owns 1,784 shares in the company, valued at $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Optimum Investment Advisors grew its stake in Celestica by 66.7% during the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after purchasing an additional 200 shares during the period. Financial Management Professionals Inc. acquired a new stake in Celestica during the third quarter worth approximately $30,000. Peregrine Capital Management LLC acquired a new stake in Celestica during the fourth quarter worth approximately $30,000. UMB Bank n.a. acquired a new stake in Celestica during the third quarter worth approximately $34,000. Finally, Private Trust Co. NA grew its stake in Celestica by 480.0% during the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock worth $44,000 after purchasing an additional 720 shares during the period. Institutional investors and hedge funds 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.