Celestica (NYSE:CLS) Stock Price Down 0.9% After Insider Selling

Celestica Inc. (NYSE:CLS) (TSE:CLS) fell 0.9% during trading on Monday after an insider sold shares in the company. The company traded as low as $124.02 and last traded at $128.59. 1,617,778 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 5,132,396 shares. The stock had previously closed at $129.70.

Specifically, President Todd C. Cooper sold 65,000 shares of Celestica stock in a transaction on Friday, February 7th. The shares were sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the completion of the sale, the president now owns 110,426 shares of the company’s stock, valued at $14,331,086.28. This trade represents a 37.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Robert Mionis sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total value of $10,596,750.00. Following the completion of the sale, the chief executive officer now directly owns 456,417 shares of the company’s stock, valued at approximately $64,487,157.93. The trade was a 14.11 % decrease in their position. The disclosure for this sale can be found here. In other Celestica news, CEO Robert Mionis sold 441,325 shares of Celestica stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $122.28, for a total value of $53,965,221.00. Following the completion of the sale, the chief executive officer now directly owns 531,417 shares in the company, valued at $64,981,670.76. The trade was a 45.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Stifel Nicolaus started coverage on shares of Celestica in a research report on Tuesday, February 4th. They set a “buy” rating and a $140.00 target price on the stock. Royal Bank of Canada increased their price objective on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 31st. BMO Capital Markets increased their price target on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Barclays increased their target price on Celestica from $91.00 to $139.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, TD Securities raised their price target on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Celestica currently has an average rating of “Moderate Buy” and a consensus target price of $103.27.

Celestica Trading Up 2.3 %

The firm has a market cap of $15.07 billion, a P/E ratio of 34.63 and a beta of 2.27. The company’s fifty day moving average price is $104.85 and its two-hundred day moving average price is $76.10. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CLS. Trexquant Investment LP lifted its position in Celestica by 79.1% during the 4th quarter. Trexquant Investment LP now owns 136,396 shares of the technology company’s stock worth $12,589,000 after buying an additional 60,228 shares in the last quarter. Headlands Technologies LLC lifted its position in shares of Celestica by 200.3% during the fourth quarter. Headlands Technologies LLC now owns 40,609 shares of the technology company’s stock worth $3,748,000 after purchasing an additional 27,085 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Celestica by 181.9% during the fourth quarter. National Bank of Canada FI now owns 388,407 shares of the technology company’s stock valued at $35,883,000 after purchasing an additional 250,604 shares during the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of Celestica in the fourth quarter valued at approximately $160,000. Finally, Franklin Resources Inc. raised its position in Celestica by 290.4% in the 4th quarter. Franklin Resources Inc. now owns 1,080,568 shares of the technology company’s stock worth $99,735,000 after purchasing an additional 803,780 shares during 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.