Celestica (NYSE:CLS) Stock Price Down 0.4% on Insider Selling

Celestica Inc. (NYSE:CLS) (TSE:CLS) fell 0.4% on Friday after an insider sold shares in the company. The company traded as low as $132.08 and last traded at $132.63. 2,349,099 shares changed hands during trading, a decline of 54% from the average session volume of 5,153,824 shares. The stock had previously closed at $133.22.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CLS. TD Cowen boosted their price objective on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Royal Bank of Canada boosted 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. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Barclays upped their price target on shares of Celestica from $91.00 to $139.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, TD Securities boosted their price objective on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.27.

Celestica Trading Down 2.6 %

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’s fifty day simple moving average is $102.31 and its two-hundred day simple moving average is $74.25. The stock has a market capitalization of $15.10 billion, a P/E ratio of 34.69 and a beta of 2.27.

Hedge Funds Weigh In On Celestica

A number of hedge funds and other institutional investors have recently made changes to their positions in CLS. Creative Planning raised its stake in shares of Celestica by 4.7% in the second quarter. Creative Planning now owns 7,526 shares of the technology company’s stock worth $431,000 after acquiring an additional 336 shares during the last quarter. Truist Financial Corp raised its stake in shares of Celestica by 2.0% in the second quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock worth $631,000 after acquiring an additional 214 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Celestica by 119.5% in the second quarter. Cetera Investment Advisers now owns 26,271 shares of the technology company’s stock worth $1,504,000 after acquiring an additional 14,305 shares during the last quarter. Park Avenue Securities LLC bought a new position in shares of Celestica in the third quarter worth about $734,000. Finally, UMB Bank n.a. bought a new position in shares of Celestica in the third quarter worth about $34,000. 67.38% of the stock is owned by institutional investors.

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.