Celestica (NYSE:CLS) Shares Down 0.3% – Here’s Why

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price was down 0.3% on Monday . The company traded as low as $89.00 and last traded at $91.31. Approximately 941,455 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 4,983,275 shares. The stock had previously closed at $91.58.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CLS shares. Barclays lifted their target price on Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Canaccord Genuity Group lifted their target price on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. Royal Bank of Canada lifted their target price on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. started coverage on Celestica in a report on Friday, February 21st. They issued an “overweight” rating and a $166.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Celestica currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Stock Performance

The firm has a market capitalization of $10.18 billion, a PE ratio of 23.40 and a beta of 2.21. 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 stock has a 50-day moving average price of $110.24 and a 200-day moving average price of $85.74.

Insider Transactions at Celestica

In other Celestica news, insider Yann L. Etienvre sold 9,181 shares of Celestica stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,170,944.74. Following the completion of the transaction, the insider now directly owns 83,179 shares in the company, valued at $10,608,649.66. The trade was a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the transaction, the director now owns 1,784 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders have sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Celestica

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Peregrine Capital Management LLC acquired a new position in Celestica in the fourth quarter valued at approximately $30,000. Pinpoint Asset Management Ltd boosted its position in shares of Celestica by 109.6% during the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock worth $32,000 after buying an additional 182 shares during the period. Bessemer Group Inc. acquired a new position in shares of Celestica during the fourth quarter worth approximately $42,000. Private Trust Co. NA boosted its position in shares of Celestica by 480.0% during the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock worth $44,000 after buying an additional 720 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Celestica during the fourth quarter worth approximately $51,000. 67.38% of the stock is currently 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.