Celestica (NYSE:CLS) Shares Gap Down – Time to Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price gapped down prior to trading on Monday . The stock had previously closed at $121.69, but opened at $105.63. Celestica shares last traded at $102.34, with a volume of 4,050,386 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on CLS. BMO Capital Markets lifted their target price on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. TD Cowen boosted their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Canaccord Genuity Group lifted their price target on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. UBS Group initiated coverage on Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective on the stock. Finally, Royal Bank of Canada lifted their target price on Celestica from $75.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Celestica currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.45.

Celestica Trading Down 23.7 %

The company’s 50 day simple moving average is $96.86 and its two-hundred day simple moving average is $70.81. The company has a market capitalization of $10.81 billion, a price-to-earnings ratio of 29.48 and a beta of 2.25. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Insider Buying and Selling

In related news, Director Michael Wilson sold 25,000 shares of the 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 directly owns 1,784 shares of the company’s stock, valued at $176,134.32. This trade represents a 93.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Stratos Wealth Partners LTD. grew its holdings in shares of Celestica by 22.0% during the fourth quarter. Stratos Wealth Partners LTD. now owns 47,080 shares of the technology company’s stock valued at $4,346,000 after buying an additional 8,487 shares during the last quarter. Calamos Advisors LLC lifted its position in Celestica by 152.6% during the 4th quarter. Calamos Advisors LLC now owns 18,852 shares of the technology company’s stock worth $1,740,000 after acquiring an additional 11,390 shares during the period. Spire Wealth Management purchased a new stake in Celestica during the 4th quarter valued at about $189,000. DAVENPORT & Co LLC purchased a new position in shares of Celestica in the fourth quarter worth about $342,000. Finally, China Universal Asset Management Co. Ltd. purchased a new position in shares of Celestica in the fourth quarter worth about $785,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.