Insider Selling: Celestica Inc. (NYSE:CLS) President Sells $1,216,476.52 in Stock

Celestica Inc. (NYSE:CLS) (TSE:CLS) President Todd C. Cooper sold 9,538 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,216,476.52. Following the completion of the transaction, the president now directly owns 175,426 shares in the company, valued at approximately $22,373,832.04. This represents a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Celestica Stock Performance

Shares of NYSE:CLS opened at $143.53 on Thursday. The company’s 50 day simple moving average is $101.31 and its 200 day simple moving average is $73.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. Celestica Inc. has a 1 year low of $35.56 and a 1 year high of $144.27. The stock has a market capitalization of $16.70 billion, a price-to-earnings ratio of 38.38 and a beta of 2.27.

Hedge Funds Weigh In On Celestica

A number of institutional investors have recently modified their holdings of the business. Chase Investment Counsel Corp bought a new position in Celestica in the fourth quarter valued at about $660,000. SVB Wealth LLC acquired a new stake in shares of Celestica in the 4th quarter valued at approximately $478,000. Oppenheimer & Co. Inc. grew its holdings in shares of Celestica by 42.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 16,450 shares of the technology company’s stock valued at $1,518,000 after purchasing an additional 4,874 shares during the last quarter. Bank of New York Mellon Corp increased its position in Celestica by 31.4% during the 4th quarter. Bank of New York Mellon Corp now owns 99,347 shares of the technology company’s stock worth $9,170,000 after purchasing an additional 23,725 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in Celestica by 122.7% in the 4th quarter. IFP Advisors Inc now owns 668 shares of the technology company’s stock valued at $62,000 after purchasing an additional 368 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Barclays increased their target price on Celestica from $91.00 to $139.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Royal Bank of Canada increased their price objective on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. BMO Capital Markets boosted their target price 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. TD Securities raised their price target on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Stifel Nicolaus assumed coverage on shares of Celestica in a report on Tuesday. They issued a “buy” rating and a $140.00 price objective for the company. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $103.27.

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.