Celestica (NYSE:CLS) Trading Down 3.2% – Time to Sell?

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) traded down 3.2% during trading on Tuesday . The company traded as low as $94.56 and last traded at $96.77. 1,605,685 shares changed hands during trading, a decline of 41% from the average session volume of 2,739,995 shares. The stock had previously closed at $99.98.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CLS. JPMorgan Chase & Co. started coverage on shares of Celestica in a research note on Friday, February 21st. They issued an “overweight” rating and a $166.00 price objective on the stock. Stifel Nicolaus lifted their price target on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price on the stock in a report on Friday, January 31st. Finally, TD Securities upped their price target on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Two investment 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $110.83.

Celestica Stock Down 3.3 %

The company has a market capitalization of $11.21 billion, a PE ratio of 25.84 and a beta of 2.21. The stock’s fifty day moving average is $109.73 and its two-hundred day moving average is $87.11. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Insider Buying and Selling at Celestica

In other Celestica news, CEO Robert Mionis sold 75,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total transaction 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. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Todd C. Cooper sold 9,538 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,216,476.52. Following the completion of the sale, the president now directly owns 175,426 shares of the company’s stock, valued at $22,373,832.04. This represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 959,381 shares of company stock worth $119,142,019 over the last three months. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Celestica

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLS. FMR LLC lifted its stake in shares of Celestica by 91.2% during the 4th quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock valued at $1,078,804,000 after buying an additional 5,574,342 shares in the last quarter. FIL Ltd lifted its position in shares of Celestica by 5,976.1% during the fourth quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock worth $319,662,000 after acquiring an additional 3,406,723 shares in the last quarter. Norges Bank purchased a new stake in shares of Celestica during the fourth quarter worth $139,008,000. Polar Capital Holdings Plc boosted its holdings in shares of Celestica by 822.6% in the fourth quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company’s stock worth $148,416,000 after acquiring an additional 1,433,681 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Celestica by 64.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock valued at $329,460,000 after purchasing an additional 1,401,877 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

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.