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

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) fell 0.3% during trading on Monday . The company traded as low as $89.00 and last traded at $91.31. 941,455 shares traded 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.

Analysts Set New Price Targets

A number of research firms have recently commented on CLS. Canaccord Genuity Group increased their target price on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Stifel Nicolaus increased their target price on shares of Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. initiated coverage on shares of Celestica in a report on Friday, February 21st. They issued an “overweight” rating and a $166.00 price objective for the company. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Finally, Royal Bank of Canada raised their price objective on shares of Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 31st. 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 stock. According to data from MarketBeat.com, Celestica has a consensus rating of “Moderate Buy” and an average price target of $110.83.

Celestica Price Performance

The firm has a market cap of $10.76 billion, a price-to-earnings ratio of 24.73 and a beta of 2.21. The business’s 50-day simple moving average is $110.59 and its two-hundred day simple moving average is $85.19. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Insider Buying and Selling at Celestica

In other news, President Todd C. Cooper sold 65,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the completion of the sale, the president now owns 110,426 shares of the company’s stock, valued at $14,331,086.28. This trade represents a 37.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Yann L. Etienvre sold 9,181 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $1,170,944.74. Following the sale, the insider now directly owns 83,179 shares of the company’s stock, valued at approximately $10,608,649.66. This trade represents a 9.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Celestica

Large investors have recently modified their holdings of the stock. Cornerstone Wealth Management LLC acquired a new stake in shares of Celestica during the 4th quarter worth approximately $385,000. Quantbot Technologies LP grew its position 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 purchasing an additional 56,732 shares during the period. Raymond James Financial Inc. acquired a new stake in Celestica in the 4th quarter valued at $47,685,000. Vaughan Nelson Investment Management L.P. acquired a new stake in Celestica in the 3rd quarter valued at $61,210,000. Finally, Schechter Investment Advisors LLC acquired a new stake in Celestica in the 4th quarter valued at $294,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.