Celestica (NYSE:CLS) Stock Price Down 2.5% – Should You Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price dropped 2.5% on Thursday . The stock traded as low as $81.98 and last traded at $85.50. Approximately 1,511,815 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 4,794,852 shares. The stock had previously closed at $87.66.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CLS. Barclays raised their target price on shares of Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Canaccord Genuity Group lifted their price objective on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Stifel Nicolaus upped their target price 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 target price for the company in a research note on Friday, January 31st. Finally, Royal Bank of Canada upped 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, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Stock Down 3.4 %

The company’s 50-day simple moving average is $109.61 and its two-hundred day simple moving average is $87.50. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The firm has a market capitalization of $9.82 billion, a P/E ratio of 22.64 and a beta of 2.21.

Insider Buying and Selling

In other news, President Todd C. Cooper sold 65,000 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the sale, the president now directly owns 110,426 shares of the company’s stock, valued at $14,331,086.28. This represents a 37.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 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 trade represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 959,381 shares of company stock worth $119,142,019. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

Large investors have recently made changes to their positions in the business. Peregrine Capital Management LLC purchased a new position in Celestica in the fourth quarter worth about $30,000. Pinpoint Asset Management Ltd boosted its holdings in shares of Celestica by 109.6% in 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 period. Bessemer Group Inc. bought a new position in shares of Celestica during the 4th quarter valued at approximately $42,000. Private Trust Co. NA raised its holdings in Celestica by 480.0% during the 3rd 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 period. Finally, R Squared Ltd bought a new stake in Celestica in the fourth quarter worth $51,000. 67.38% of the stock is currently 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.