Celestica (NYSE:CLS) Shares Down 8.4% – Time to Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price traded down 8.4% during trading on Monday . The company traded as low as $78.86 and last traded at $80.17. 2,514,735 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 5,030,222 shares. The stock had previously closed at $87.53.

Analyst Ratings Changes

Several research firms have recently weighed in on CLS. TD Securities lifted their price objective on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. 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. Royal Bank of Canada increased 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. Stifel Nicolaus lifted their target price on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.83.

Celestica Stock Performance

The firm has a market cap of $10.09 billion, a price-to-earnings ratio of 23.19 and a beta of 2.21. 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 company has a 50 day moving average of $110.87 and a 200 day moving average of $84.37.

Insider Buying and Selling at Celestica

In other Celestica news, insider Yann L. Etienvre sold 9,181 shares of the firm’s 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 transaction, the insider now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Wilson sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 1,784 shares in the company, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 959,381 shares of company stock valued at $119,142,019 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

Several hedge funds and other institutional investors have recently bought and sold shares of CLS. Park Square Financial Group LLC bought a new position in Celestica during the 4th quarter worth approximately $345,000. Mackenzie Financial Corp lifted its stake in Celestica by 39.3% during the fourth quarter. Mackenzie Financial Corp now owns 761,084 shares of the technology company’s stock worth $70,164,000 after purchasing an additional 214,872 shares during the last quarter. Invst LLC increased its stake in Celestica by 11.7% during the fourth quarter. Invst LLC now owns 11,243 shares of the technology company’s stock valued at $1,038,000 after purchasing an additional 1,174 shares during the last quarter. Vise Technologies Inc. raised its holdings in shares of Celestica by 100.9% during the fourth quarter. Vise Technologies Inc. now owns 44,564 shares of the technology company’s stock worth $4,113,000 after purchasing an additional 22,387 shares during the period. Finally, Castleark Management LLC bought a new position in shares of Celestica in the 4th quarter worth about $9,378,000. 67.38% of the stock is 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.