Celestica (NYSE:CLS) Trading Down 7.3% – Time to Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares were down 7.3% on Thursday . The stock traded as low as $81.30 and last traded at $84.30. Approximately 2,465,276 shares were traded during trading, a decline of 50% from the average daily volume of 4,973,195 shares. The stock had previously closed at $90.95.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CLS shares. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. TD Securities increased their price objective on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. started coverage on shares of Celestica in a research note on Friday, February 21st. They issued an “overweight” rating and a $166.00 price target on the stock. Stifel Nicolaus lifted their price target on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, UBS Group assumed coverage on Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective for the company. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $110.83.

Celestica Stock Up 7.2 %

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 firm has a market cap of $10.18 billion, a price-to-earnings ratio of 23.39 and a beta of 2.21. The firm’s fifty day moving average is $111.39 and its two-hundred day moving average is $83.28.

Insider Buying and Selling at Celestica

In other Celestica news, President Todd C. Cooper sold 9,538 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,216,476.52. Following the completion of the sale, the president now directly owns 175,426 shares of the company’s stock, valued at approximately $22,373,832.04. This represents a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alok K. Agrawal sold 6,826 shares of the company’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 sale, the insider now directly owns 9,224 shares of the company’s stock, valued at $1,235,278.08. This represents a 42.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Celestica

Large investors have recently made changes to their positions in the business. Peregrine Capital Management LLC acquired a new position in shares of Celestica in the 4th quarter valued at about $30,000. Pinpoint Asset Management Ltd increased its holdings 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 valued at $32,000 after purchasing an additional 182 shares during the period. Bessemer Group Inc. acquired a new position in shares of Celestica in the 4th quarter valued at about $42,000. Private Trust Co. NA increased its holdings in shares of Celestica by 480.0% in the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after purchasing an additional 720 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Celestica in the 4th quarter valued at about $51,000. Institutional investors and hedge funds 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.