Celestica (NYSE:CLS) Shares Down 0.3% – Here’s Why

Celestica Inc. (NYSE:CLS) (TSE:CLS) traded down 0.3% during mid-day trading on Monday . The stock traded as low as $89.00 and last traded at $91.31. 941,455 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 4,983,275 shares. The stock had previously closed at $91.58.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Barclays lifted their price target on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. TD Securities lifted their price target on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective on the stock in a research note on Friday, January 31st. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. started coverage on Celestica in a research note on Friday, February 21st. They set an “overweight” rating and a $166.00 price objective on the stock. Two investment 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’s stock. Based on data from MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Stock Up 1.0 %

The company has a market capitalization of $10.76 billion, a P/E ratio of 24.73 and a beta of 2.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The stock has a 50 day moving average price of $110.59 and a 200 day moving average price of $85.19.

Insider Transactions at Celestica

In related news, President Todd C. Cooper sold 65,000 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $129.78, for a total value of $8,435,700.00. Following the sale, the president now directly owns 110,426 shares in the company, valued at approximately $14,331,086.28. The trade was a 37.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert Mionis sold 75,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total value of $10,596,750.00. Following the completion of the sale, the chief executive officer now owns 456,417 shares in the company, valued at $64,487,157.93. This represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 959,381 shares of company stock worth $119,142,019 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC bought a new stake in Celestica in the 4th quarter valued at about $385,000. Quantbot Technologies LP raised its stake in Celestica by 120.9% in the 3rd quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock valued at $5,299,000 after acquiring an additional 56,732 shares during the period. Raymond James Financial Inc. bought a new stake in Celestica in the 4th quarter valued at about $47,685,000. Vaughan Nelson Investment Management L.P. purchased a new position in Celestica during the 3rd quarter valued at about $61,210,000. Finally, Schechter Investment Advisors LLC purchased a new position in Celestica during the 4th quarter valued at about $294,000. 67.38% of the stock is currently owned by institutional investors.

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.