Celestica (NYSE:CLS) Trading Down 7.3% – Time to Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price fell 7.3% during trading on Thursday . The company traded as low as $81.30 and last traded at $84.30. 2,465,276 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 4,973,195 shares. The stock had previously closed at $90.95.

Wall Street Analyst Weigh In

A number of research firms recently commented on CLS. Stifel Nicolaus increased their price objective on Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target on the stock in a report on Friday, January 31st. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Barclays increased their price target on Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, TD Securities increased their price target on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Celestica has a consensus rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Stock Up 7.2 %

The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $10.18 billion, a P/E ratio of 23.39 and a beta of 2.21. The firm has a 50-day moving average price of $111.39 and a two-hundred day moving average price of $83.28.

Insider Activity

In related news, CEO Robert Mionis sold 441,325 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $122.28, for a total value of $53,965,221.00. Following the completion of the transaction, the chief executive officer now directly owns 531,417 shares of the company’s stock, valued at $64,981,670.76. This trade represents a 45.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alok K. Agrawal sold 6,826 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total value of $914,137.92. Following the completion of the transaction, the insider now directly owns 9,224 shares of the company’s stock, valued at approximately $1,235,278.08. This trade represents a 42.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Park Square Financial Group LLC bought a new position in Celestica in the fourth quarter worth $345,000. Mackenzie Financial Corp raised its stake in Celestica by 39.3% during the fourth quarter. Mackenzie Financial Corp now owns 761,084 shares of the technology company’s stock worth $70,164,000 after acquiring an additional 214,872 shares in the last quarter. Invst LLC raised its stake in Celestica by 11.7% during the fourth quarter. Invst LLC now owns 11,243 shares of the technology company’s stock worth $1,038,000 after acquiring an additional 1,174 shares in the last quarter. Vise Technologies Inc. raised its stake in Celestica by 100.9% during the fourth quarter. Vise Technologies Inc. now owns 44,564 shares of the technology company’s stock worth $4,113,000 after acquiring an additional 22,387 shares in the last quarter. Finally, Castleark Management LLC acquired a new position in Celestica during the fourth quarter worth $9,378,000. 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.