Celestica (NYSE:CLS) Shares Down 9.5% Following Insider Selling

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price traded down 9.5% on Thursday following insider selling activity. The company traded as low as $128.25 and last traded at $129.97. 3,873,933 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 5,025,290 shares. The stock had previously closed at $143.67.

Specifically, CEO Robert Mionis sold 75,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total value of $10,596,750.00. Following the completion of the transaction, the chief executive officer now directly owns 456,417 shares of the company’s stock, valued at approximately $64,487,157.93. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert Mionis sold 441,325 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $122.28, for a total value of $53,965,221.00. Following the transaction, the chief executive officer now directly owns 531,417 shares in the company, valued at $64,981,670.76. This represents a 45.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, insider Alok K. Agrawal sold 6,826 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total transaction of $914,137.92. Following the transaction, the insider now directly owns 9,224 shares of the company’s stock, valued at $1,235,278.08. This represents a 42.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CLS shares. Royal Bank of Canada upped their target price on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. BMO Capital Markets boosted their price target on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target on the stock in a research note on Friday, January 31st. Stifel Nicolaus assumed coverage on Celestica in a research note on Tuesday. They set a “buy” rating and a $140.00 price target on the stock. Finally, UBS Group initiated coverage on Celestica in a research note on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target on the stock. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.27.

Celestica Stock Down 2.6 %

The company has a market cap of $15.10 billion, a price-to-earnings ratio of 34.69 and a beta of 2.27. 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 business has a fifty day moving average of $102.31 and a two-hundred day moving average of $74.25.

Hedge Funds Weigh In On Celestica

Large investors have recently bought and sold shares of the business. Peregrine Capital Management LLC acquired a new position in Celestica in the 4th quarter worth about $30,000. Optimum Investment Advisors raised its holdings in shares of Celestica by 66.7% during the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. R Squared Ltd acquired a new position in shares of Celestica during the fourth quarter valued at approximately $51,000. Financial Management Professionals Inc. acquired a new position in shares of Celestica during the third quarter valued at approximately $30,000. Finally, UMB Bank n.a. acquired a new position in shares of Celestica during the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.