Celestica (NYSE:CLS) Stock Price Down 0.2% – Here’s What Happened

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) traded down 0.2% on Wednesday . The stock traded as low as $128.03 and last traded at $132.04. 892,211 shares traded hands during trading, a decline of 81% from the average session volume of 4,756,929 shares. The stock had previously closed at $132.29.

Analyst Ratings Changes

A number of brokerages recently issued reports on CLS. Royal Bank of Canada increased their price target 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. CIBC upgraded shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price for the company in a report on Friday, January 31st. TD Securities lifted their price target on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. BMO Capital Markets boosted their price target on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, TD Cowen raised their price objective on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Stock Down 4.5 %

The company has a market capitalization of $13.89 billion, a PE ratio of 31.93 and a beta of 2.27. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The firm has a 50 day simple moving average of $110.78 and a two-hundred day simple moving average of $80.16.

Insider Activity at Celestica

In other Celestica news, insider Yann L. Etienvre sold 9,181 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $1,170,944.74. Following the transaction, the insider now owns 83,179 shares in the company, valued at approximately $10,608,649.66. The trade was a 9.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Todd C. Cooper sold 9,538 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $1,216,476.52. Following the completion of the sale, the president now directly owns 175,426 shares of the company’s stock, valued at $22,373,832.04. This represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 959,381 shares of company stock worth $119,142,019 in the last three months. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Cornerstone Wealth Management LLC acquired a new position in shares of Celestica during the 4th quarter worth $385,000. Quantbot Technologies LP boosted its holdings in Celestica by 120.9% during the third quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock worth $5,299,000 after buying an additional 56,732 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Celestica during the third quarter worth about $61,210,000. Sigma Planning Corp purchased a new position in Celestica in the third quarter valued at about $420,000. Finally, Advisors Asset Management Inc. increased its holdings in Celestica by 61.9% in the third quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock valued at $1,682,000 after buying an additional 12,584 shares in the last quarter. 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.