Celestica (NYSE:CLS) Shares Down 4.2% – Time to Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares were down 4.2% on Tuesday . The stock traded as low as $86.23 and last traded at $87.96. Approximately 1,241,015 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 2,712,737 shares. The stock had previously closed at $91.78.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CLS shares. TD Securities boosted their target price on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. 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 for the company. Stifel Nicolaus boosted their target price on Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Royal Bank of Canada boosted their target price on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price for the company in a report on Friday, January 31st. 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Stock Up 5.3 %

The firm has a 50 day simple moving average of $110.24 and a two-hundred day simple moving average of $85.74. 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 $10.72 billion, a price-to-earnings ratio of 24.62 and a beta of 2.21.

Insider Buying and Selling at Celestica

In other Celestica news, CEO Robert Mionis sold 75,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total value of $10,596,750.00. Following the transaction, the chief executive officer now owns 456,417 shares of the company’s stock, valued at approximately $64,487,157.93. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mandeep Chawla sold 9,483 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $1,209,461.82. Following the completion of the transaction, the chief financial officer now directly 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. Over the last quarter, insiders have sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Celestica

Large investors have recently modified their holdings of the business. Peregrine Capital Management LLC bought a new stake in shares of Celestica in the fourth quarter worth about $30,000. Pinpoint Asset Management Ltd grew its holdings 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 in the last quarter. Bessemer Group Inc. bought a new position in shares of Celestica during the fourth quarter worth about $42,000. Private Trust Co. NA grew its holdings 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 in the last quarter. Finally, R Squared Ltd bought a new position in shares of Celestica during the fourth quarter worth about $51,000. 67.38% of the stock is currently owned by institutional investors.

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.