Celestica (NYSE:CLS) Shares Gap Down After Insider Selling

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price gapped down before the market opened on Monday after an insider sold shares in the company. The stock had previously closed at $123.47, but opened at $110.80. Celestica shares last traded at $122.68, with a volume of 3,335,296 shares traded.

Specifically, CEO Robert Mionis sold 52,588 shares of Celestica stock in a transaction on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $6,707,073.52. Following the completion of the transaction, the chief executive officer now owns 531,417 shares in the company, valued at approximately $67,776,924.18. The trade was a 9.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mandeep Chawla sold 9,483 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 90,771 shares in the company, valued at $11,576,933.34. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. In other news, President Todd C. Cooper sold 9,538 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,216,476.52. Following the completion of the sale, the president now directly owns 175,426 shares in the company, valued at approximately $22,373,832.04. This trade represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Analysts Set New Price Targets

A number of brokerages have commented on CLS. Canaccord Genuity Group increased their price objective on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Barclays increased their price target on shares of Celestica from $91.00 to $139.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. BMO Capital Markets increased their price objective on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, CIBC raised 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. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Celestica has a consensus rating of “Moderate Buy” and a consensus target price of $103.27.

Celestica Stock Up 9.4 %

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 market cap of $15.38 billion, a price-to-earnings ratio of 35.34 and a beta of 2.27. The firm has a 50 day simple moving average of $100.10 and a two-hundred day simple moving average of $73.34.

Institutional Trading of Celestica

Large investors have recently made changes to their positions in the company. Cornerstone Wealth Management LLC bought a new position in Celestica in the fourth quarter valued at $385,000. Quantbot Technologies LP grew its holdings in shares of Celestica by 120.9% in the 3rd quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock valued at $5,299,000 after acquiring an additional 56,732 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Celestica during the third quarter worth about $61,210,000. Sigma Planning Corp acquired a new position in Celestica during the third quarter valued at approximately $420,000. Finally, Advisors Asset Management Inc. grew its stake in Celestica by 61.9% in the third quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock valued at $1,682,000 after purchasing an additional 12,584 shares in 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.