Celestica (NYSE:CLS) Shares Gap Down – Time to Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares gapped down prior to trading on Monday . The stock had previously closed at $87.53, but opened at $82.75. Celestica shares last traded at $80.77, with a volume of 1,598,995 shares.

Wall Street Analyst Weigh In

A number of research firms have commented on CLS. Stifel Nicolaus upped their price objective on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Canaccord Genuity Group upped their price target on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Royal Bank of Canada lifted their price objective on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. TD Securities increased their target price on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, UBS Group began coverage on Celestica in a research report on Friday, November 22nd. They issued 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $110.83.

Celestica Trading Down 10.0 %

The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of 21.14 and a beta of 2.21. The company has a fifty day moving average price of $111.23 and a 200-day moving average price of $83.72. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Insiders Place Their Bets

In related news, President Todd C. Cooper sold 65,000 shares of the company’s 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 in the company, valued at approximately $14,331,086.28. This represents a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael Wilson sold 25,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the transaction, the director now directly owns 1,784 shares in the company, valued at $176,134.32. The trade was a 93.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock valued at $119,142,019 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Peregrine Capital Management LLC bought a new position in shares of Celestica in the fourth quarter valued at approximately $30,000. Pinpoint Asset Management Ltd raised its holdings in Celestica by 109.6% in the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock worth $32,000 after acquiring an additional 182 shares during the period. Bessemer Group Inc. acquired a new position in Celestica during the 4th quarter worth $42,000. Private Trust Co. NA boosted its holdings in Celestica by 480.0% during the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after acquiring an additional 720 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of Celestica in the fourth quarter valued at about $51,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.