Celestica (NYSE:CLS) Shares Down 6% – Time to Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS) dropped 6% during trading on Thursday . The stock traded as low as $122.08 and last traded at $123.72. Approximately 1,602,470 shares changed hands during trading, a decline of 66% from the average daily volume of 4,720,643 shares. The stock had previously closed at $131.58.

Analyst Ratings Changes

Several equities research analysts have weighed in on CLS shares. Barclays raised their target price on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. TD Cowen raised their price objective on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. UBS Group assumed coverage on Celestica in a research report on Friday, November 22nd. They set a “neutral” rating and a $95.00 target price on the stock. Stifel Nicolaus raised their price target on Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Royal Bank of Canada boosted their price target on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.82.

Celestica Stock Performance

The company has a market capitalization of $14.42 billion, a price-to-earnings ratio of 33.14 and a beta of 2.27. The firm has a fifty day simple moving average of $109.70 and a 200 day simple moving average of $79.34. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

Insider Activity

In other news, insider Yann L. Etienvre sold 9,181 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 83,179 shares of the company’s stock, valued at $10,608,649.66. The trade was a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Wilson sold 25,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the transaction, the director now owns 1,784 shares of the company’s stock, 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 959,381 shares of company stock worth $119,142,019 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Several large investors have recently bought and sold shares of the company. Financial Management Professionals Inc. purchased a new position in shares of Celestica in the third quarter valued at approximately $30,000. Peregrine Capital Management LLC purchased a new position in Celestica in the 4th quarter valued at $30,000. Pinpoint Asset Management Ltd boosted its stake in Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock worth $32,000 after purchasing an additional 182 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of Celestica during the fourth quarter worth $42,000. Finally, Private Trust Co. NA raised its position in shares of Celestica by 480.0% in the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after buying an additional 720 shares during the last quarter. 67.38% of the stock is currently owned by hedge funds and other 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.