Celestica (NYSE:CLS) Trading Down 4.2% – Time to Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price traded down 4.2% during mid-day trading on Tuesday . The company traded as low as $86.23 and last traded at $87.96. 1,241,015 shares were traded during trading, a decline of 54% from the average session volume of 2,712,737 shares. The stock had previously closed at $91.78.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Royal Bank of Canada increased their price objective on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Canaccord Genuity Group increased their price target on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Barclays increased their price target on Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. TD Securities increased their price target on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. assumed coverage on Celestica in a research report on Friday, February 21st. They set an “overweight” rating and a $166.00 price target for the company. Two equities research 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $110.83.

Celestica Stock Performance

The stock has a 50 day simple moving average of $110.24 and a 200 day simple moving average of $85.74. 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 stock has a market cap of $10.72 billion, a P/E ratio of 24.62 and a beta of 2.21.

Insider Activity

In related news, insider Alok K. Agrawal sold 6,826 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total transaction of $914,137.92. Following the sale, the insider now owns 9,224 shares in the company, valued at $1,235,278.08. The trade was a 42.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $98.73, for a total value of $2,468,250.00. Following the transaction, the director now directly owns 1,784 shares in the company, valued at $176,134.32. The trade was a 93.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 959,381 shares of company stock worth $119,142,019. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cornerstone Wealth Management LLC bought a new stake in Celestica in the 4th quarter valued at about $385,000. Quantbot Technologies LP increased its holdings in Celestica by 120.9% during the 3rd quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock worth $5,299,000 after purchasing an additional 56,732 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Celestica during the 4th quarter worth approximately $47,685,000. Schechter Investment Advisors LLC purchased a new stake in shares of Celestica in the fourth quarter worth approximately $294,000. Finally, Advisors Asset Management Inc. raised its stake in shares of Celestica by 61.9% in the third quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock worth $1,682,000 after purchasing an additional 12,584 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

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.