Celestica (NYSE:CLS) Shares Down 0.5% – What’s Next?

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares dropped 0.5% on Tuesday . The stock traded as low as $131.20 and last traded at $131.46. Approximately 1,623,389 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 4,821,609 shares. The stock had previously closed at $132.06.

Analysts Set New Price Targets

CLS has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price objective on shares of Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Canaccord Genuity Group boosted their price target on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. Barclays raised their price objective on Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. TD Securities boosted their price objective on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Finally, TD Cowen increased their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $105.82.

Celestica Stock Performance

The firm has a market capitalization of $14.52 billion, a PE ratio of 33.37 and a beta of 2.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The business’s fifty day simple moving average is $110.38 and its 200-day simple moving average is $79.66.

Insider Activity at Celestica

In other news, CEO Robert Mionis sold 75,000 shares of the firm’s stock in a transaction dated 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 owns 456,417 shares in the company, valued at $64,487,157.93. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mandeep Chawla sold 9,483 shares of Celestica stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,209,461.82. Following the completion of the sale, the chief financial officer now directly owns 90,771 shares in the company, valued at $11,576,933.34. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 959,381 shares of company stock valued at $119,142,019. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Financial Management Professionals Inc. bought a new stake in Celestica in the third quarter worth $30,000. Peregrine Capital Management LLC purchased a new position in shares of Celestica in the 4th quarter worth $30,000. Pinpoint Asset Management Ltd grew its stake 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 buying an additional 182 shares in the last quarter. Bessemer Group Inc. bought a new stake in shares of Celestica in the 4th quarter worth about $42,000. Finally, Private Trust Co. NA raised its position in shares of 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 in the last quarter. 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.