Celestica (NYSE:CLS) Stock Price Down 4.7% – What’s Next?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price was down 4.7% during mid-day trading on Tuesday . The company traded as low as $86.18 and last traded at $88.45. Approximately 2,973,340 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 4,947,832 shares. The stock had previously closed at $92.80.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CLS shares. Royal Bank of Canada increased their price target on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. UBS Group started coverage on Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 target price on the stock. Barclays raised their target price on Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. initiated coverage on shares of Celestica in a research report on Friday, February 21st. They set an “overweight” rating and a $166.00 price target on the stock. Finally, TD Securities raised their price objective 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. 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Stock Down 2.8 %

The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The company has a market cap of $10.50 billion, a P/E ratio of 24.13 and a beta of 2.27. The firm’s 50 day moving average price is $112.00 and its 200-day moving average price is $82.99.

Insider Buying and Selling at Celestica

In related news, President Todd C. Cooper sold 65,000 shares of the company’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 completion of the sale, the president now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Robert Mionis sold 52,588 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $6,707,073.52. Following the transaction, the chief executive officer now owns 531,417 shares in the company, valued at approximately $67,776,924.18. This trade represents a 9.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Celestica

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Peregrine Capital Management LLC acquired a new position in Celestica during the fourth quarter valued at approximately $30,000. Pinpoint Asset Management Ltd grew its holdings in shares of Celestica by 109.6% in the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock valued at $32,000 after buying an additional 182 shares during the period. Bessemer Group Inc. bought a new stake in shares of Celestica in the 4th quarter valued at $42,000. R Squared Ltd bought a new stake in shares of Celestica in the 4th quarter valued at $51,000. Finally, IFP Advisors Inc raised its stake in Celestica by 122.7% during the 4th quarter. IFP Advisors Inc now owns 668 shares of the technology company’s stock worth $62,000 after buying an additional 368 shares during the period. 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.