Celestica (NYSE:CLS) Stock Price Down 0.9% Following Insider Selling

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price fell 0.9% on Monday following insider selling activity. The stock traded as low as $124.02 and last traded at $128.59. 1,617,778 shares traded hands during trading, a decline of 68% from the average session volume of 5,132,396 shares. The stock had previously closed at $129.70.

Specifically, President Todd C. Cooper sold 65,000 shares of Celestica stock in a transaction on Friday, February 7th. The shares were sold at an average price of $129.78, for a total value of $8,435,700.00. Following the transaction, the president now directly owns 110,426 shares in the company, valued at approximately $14,331,086.28. The trade was a 37.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Mionis sold 75,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total transaction of $10,596,750.00. Following the transaction, the chief executive officer now owns 456,417 shares in the company, valued at approximately $64,487,157.93. This trade represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CEO Robert Mionis sold 441,325 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the transaction, the chief executive officer now directly owns 531,417 shares in the company, valued at $64,981,670.76. The trade was a 45.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Analysts Set New Price Targets

CLS has been the topic of several recent analyst reports. Canaccord Genuity Group upped their target price on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Royal Bank of Canada upped their price target on shares of Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Barclays upped their price target on shares of Celestica from $91.00 to $139.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. CIBC raised shares of 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, UBS Group assumed coverage on shares of Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target on the stock. Two research 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 stock. Based on data from MarketBeat, Celestica presently has an average rating of “Moderate Buy” and an average target price of $103.27.

Celestica Stock Performance

The business has a 50-day moving average of $104.85 and a 200 day moving average of $76.10. 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 company has a market cap of $15.07 billion, a PE ratio of 34.63 and a beta of 2.27.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CLS. Optimum Investment Advisors raised its stake in Celestica by 66.7% in the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after acquiring an additional 200 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of Celestica in the third quarter valued at approximately $30,000. Peregrine Capital Management LLC purchased a new position in Celestica in the fourth quarter worth approximately $30,000. UMB Bank n.a. acquired a new position in Celestica during the third quarter worth $34,000. Finally, Private Trust Co. NA raised its stake in shares of Celestica by 480.0% in the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after acquiring an additional 720 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.