Celestica (NYSE:CLS) Trading Down 5.2% – Should You Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares were down 5.2% during mid-day trading on Tuesday . The stock traded as low as $103.03 and last traded at $105.13. Approximately 2,097,533 shares changed hands during trading, a decline of 56% from the average daily volume of 4,758,786 shares. The stock had previously closed at $110.88.

Analyst Ratings Changes

CLS has been the topic of a number of analyst reports. Stifel Nicolaus increased their price objective on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. UBS Group assumed coverage on Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target on the stock. Canaccord Genuity Group boosted their price objective on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Barclays upped their price objective on shares of Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Celestica in a report on Friday. They issued an “overweight” rating and a $166.00 target price on the stock. Two 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 company. According to data from MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and an average price target of $110.83.

Celestica Stock Performance

The firm has a fifty day simple moving average of $111.02 and a 200 day simple moving average of $81.10. 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 stock has a market cap of $12.38 billion, a price-to-earnings ratio of 28.46 and a beta of 2.27.

Insider Activity at Celestica

In other Celestica news, Director Michael Wilson sold 25,000 shares of the business’s 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 sale, the director now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Todd C. Cooper sold 65,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the transaction, the president now directly owns 110,426 shares of the company’s stock, valued at $14,331,086.28. The trade was a 37.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 959,381 shares of company stock worth $119,142,019. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Celestica

Several large investors have recently modified their holdings of CLS. Financial Management Professionals Inc. acquired a new stake in Celestica in the 3rd quarter valued at $30,000. Peregrine Capital Management LLC bought a new position in shares of Celestica during the fourth quarter valued at $30,000. Pinpoint Asset Management Ltd boosted its stake in shares of Celestica by 109.6% in the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock valued at $32,000 after purchasing an additional 182 shares in the last quarter. Bessemer Group Inc. acquired a new stake in shares of Celestica during the 4th quarter worth about $42,000. Finally, Private Trust Co. NA increased its position in shares of 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. 67.38% of the stock is currently owned by institutional investors.

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.