Celestica (NYSE:CLS) Stock Price Down 3.2% – Should You Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS) was down 3.2% during trading on Tuesday . The stock traded as low as $94.56 and last traded at $96.77. Approximately 1,605,685 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 2,739,995 shares. The stock had previously closed at $99.98.

Wall Street Analyst Weigh In

CLS has been the subject of several research reports. JPMorgan Chase & Co. assumed coverage on shares of Celestica in a research note on Friday, February 21st. They issued an “overweight” rating and a $166.00 price target for the company. TD Securities upped their price objective on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Canaccord Genuity Group raised their price objective on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Barclays raised their price objective on Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price on the stock in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Celestica has an average rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Trading Down 9.9 %

The firm has a market capitalization of $10.17 billion, a PE ratio of 23.46 and a beta of 2.21. The business has a 50 day moving average price of $109.61 and a 200-day moving average price of $87.50. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Insider Activity at Celestica

In other Celestica news, insider Alok K. Agrawal sold 6,826 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total value of $914,137.92. Following the sale, the insider now owns 9,224 shares of the company’s stock, valued at $1,235,278.08. This represents a 42.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 1,784 shares of the company’s stock, valued at $176,134.32. The trade was a 93.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock worth $119,142,019 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Cerity Partners LLC grew its holdings in Celestica by 3.2% in the third quarter. Cerity Partners LLC now owns 10,772 shares of the technology company’s stock valued at $551,000 after purchasing an additional 338 shares during the period. Larson Financial Group LLC acquired a new position in shares of Celestica in the 3rd quarter valued at about $204,000. Independent Advisor Alliance grew its holdings in shares of Celestica by 39.5% during the 3rd quarter. Independent Advisor Alliance now owns 29,509 shares of the technology company’s stock worth $1,508,000 after purchasing an additional 8,359 shares during the period. Private Trust Co. NA increased its position in Celestica by 480.0% during the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock worth $44,000 after purchasing an additional 720 shares in the last quarter. Finally, D.A. Davidson & CO. raised its holdings in Celestica by 66.2% in the third quarter. D.A. Davidson & CO. now owns 12,175 shares of the technology company’s stock valued at $622,000 after buying an additional 4,850 shares during the period. 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.