Celestica (NYSE:CLS) Trading Down 2.5% – Should You Sell?

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) fell 2.5% during mid-day trading on Thursday . The company traded as low as $81.98 and last traded at $85.50. 1,511,815 shares were traded during trading, a decline of 68% from the average session volume of 4,794,852 shares. The stock had previously closed at $87.66.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CLS. Canaccord Genuity Group lifted their price target on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. JPMorgan Chase & Co. began coverage on shares of Celestica in a research report on Friday, February 21st. They set an “overweight” rating and a $166.00 price objective on the stock. Barclays upped their price objective on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. TD Securities lifted their target price 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. Finally, Royal Bank of Canada upped their price target on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $110.83.

Celestica Stock Down 2.2 %

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 business has a 50-day simple moving average of $108.09 and a 200-day simple moving average of $87.76. The stock has a market cap of $9.57 billion, a P/E ratio of 22.07 and a beta of 2.21.

Insider Buying and Selling at Celestica

In other Celestica news, President Todd C. Cooper sold 65,000 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $129.78, for a total value of $8,435,700.00. Following the completion of the sale, the president now directly owns 110,426 shares of the company’s stock, valued at $14,331,086.28. This represents a 37.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Yann L. Etienvre sold 9,181 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 83,179 shares in the company, valued at $10,608,649.66. This represents a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock worth $119,142,019 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Several hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP acquired a new position in Celestica in the 4th quarter valued at approximately $26,965,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Celestica in the fourth quarter valued at $405,000. Park Square Financial Group LLC acquired a new position in shares of Celestica in the fourth quarter valued at $345,000. Mackenzie Financial Corp lifted its position in Celestica by 39.3% in the fourth quarter. Mackenzie Financial Corp now owns 761,084 shares of the technology company’s stock worth $70,164,000 after purchasing an additional 214,872 shares during the period. Finally, Invst LLC boosted its stake in Celestica by 11.7% during the fourth quarter. Invst LLC now owns 11,243 shares of the technology company’s stock worth $1,038,000 after buying an additional 1,174 shares in the last quarter. Institutional investors 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.