Celestica (NYSE:CLS) Trading Down 6.2% – Should You Sell?

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) dropped 6.2% on Monday . The company traded as low as $108.88 and last traded at $111.83. Approximately 2,917,010 shares were traded during trading, a decline of 38% from the average daily volume of 4,734,624 shares. The stock had previously closed at $119.25.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CLS shares. Stifel Nicolaus lifted their price objective on Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. CIBC raised Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective on the stock 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. JPMorgan Chase & Co. started coverage on shares of Celestica in a research note on Friday. They set an “overweight” rating and a $166.00 target price for the company. Finally, UBS Group began coverage on Celestica in a research report on Friday, November 22nd. They set a “neutral” rating and a $95.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.83.

Celestica Stock Down 6.0 %

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 business has a fifty day moving average of $110.78 and a two-hundred day moving average of $80.65. The company has a market cap of $13.05 billion, a price-to-earnings ratio of 29.95 and a beta of 2.27.

Insider Transactions at Celestica

In other news, insider Alok K. Agrawal sold 6,826 shares of Celestica stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total value of $914,137.92. Following the sale, the insider now directly owns 9,224 shares of the company’s stock, valued at $1,235,278.08. The trade was a 42.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Wilson sold 25,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the transaction, the director now directly owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 959,381 shares of company stock valued at $119,142,019 in the last three months. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Celestica

Large investors have recently modified their holdings of the business. Peregrine Capital Management LLC acquired a new position in Celestica during the fourth quarter worth about $30,000. Pinpoint Asset Management Ltd boosted its holdings 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. Bessemer Group Inc. purchased a new stake in shares of Celestica in the fourth quarter valued at approximately $42,000. R Squared Ltd acquired a new stake in shares of Celestica in the fourth quarter valued at approximately $51,000. Finally, Financial Management Professionals Inc. acquired a new stake in shares of Celestica in the third quarter valued at approximately $30,000. 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.