Celestica (NYSE:CLS) Trading Down 5.2% – Here’s Why

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on CLS shares. UBS Group began coverage on Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective on the stock. JPMorgan Chase & Co. began coverage on shares of Celestica in a research report on Friday. They set an “overweight” rating and a $166.00 price objective for the company. Barclays lifted their price objective on shares of Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Royal Bank of Canada increased their target price on shares of Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Finally, TD Securities lifted 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. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.83.

Celestica Stock Down 4.1 %

The stock has a market capitalization of $12.38 billion, a price-to-earnings ratio of 28.46 and a beta of 2.27. 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 firm has a 50-day moving average of $111.02 and a two-hundred day moving average of $81.10.

Insider Buying and Selling

In other Celestica news, insider Yann L. Etienvre sold 9,181 shares of Celestica stock in a transaction on Friday, January 31st. The shares were 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 of the company’s stock, valued at $10,608,649.66. This trade represents a 9.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $2,468,250.00. Following the transaction, the director now owns 1,784 shares in the company, valued at approximately $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 959,381 shares of company stock worth $119,142,019. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CLS. Cornerstone Wealth Management LLC acquired a new position in Celestica in the fourth quarter worth approximately $385,000. Quantbot Technologies LP grew its position in Celestica by 120.9% in the third quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock worth $5,299,000 after acquiring an additional 56,732 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Celestica during the 3rd quarter worth $61,210,000. Sigma Planning Corp bought a new position in shares of Celestica during the 3rd quarter valued at $420,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of Celestica by 61.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock valued at $1,682,000 after purchasing an additional 12,584 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

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.