Celestica (NYSE:CLS) Trading Down 6% – Should You Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS) traded down 6% during trading on Thursday . The stock traded as low as $122.08 and last traded at $123.72. 1,602,470 shares were traded during mid-day trading, a decline of 66% from the average session volume of 4,720,643 shares. The stock had previously closed at $131.58.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CLS shares. Royal Bank of Canada lifted their price objective on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. TD Cowen upped their price target on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. UBS Group assumed coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective for the company. CIBC raised Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target on the stock in a report on Friday, January 31st. Finally, Barclays boosted their price target on shares of Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Two research 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $105.82.

Celestica Stock Down 5.8 %

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 company’s fifty day moving average price is $109.70 and its 200-day moving average price is $79.34. The stock has a market cap of $14.42 billion, a P/E ratio of 33.14 and a beta of 2.27.

Insiders Place Their Bets

In related news, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Alok K. Agrawal sold 6,826 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total transaction of $914,137.92. Following the completion of the sale, the insider now directly owns 9,224 shares of the company’s stock, valued at approximately $1,235,278.08. This trade represents a 42.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 959,381 shares of company stock valued at $119,142,019 over the last 90 days. Insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

Several institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC increased its holdings in Celestica by 91.2% during the 4th quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock worth $1,078,804,000 after purchasing an additional 5,574,342 shares during the period. FIL Ltd grew its position in shares of Celestica by 5,976.1% during the 4th quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock worth $319,662,000 after buying an additional 3,406,723 shares in the last quarter. Norges Bank purchased a new position in shares of Celestica during the fourth quarter valued at $139,008,000. Polar Capital Holdings Plc raised its holdings in shares of Celestica by 822.6% in the fourth quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company’s stock valued at $148,416,000 after acquiring an additional 1,433,681 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Celestica by 64.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock worth $329,460,000 after acquiring an additional 1,401,877 shares during the period. 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.