Celestica (NYSE:CLS) Trading Down 1.6% – Should You Sell?

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) were down 1.6% during mid-day trading on Friday . The company traded as low as $101.18 and last traded at $106.15. Approximately 2,098,231 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 4,811,671 shares. The stock had previously closed at $107.87.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CLS. Canaccord Genuity Group lifted their target price on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. initiated coverage on Celestica in a report on Friday, February 21st. They set an “overweight” rating and a $166.00 price objective on the stock. CIBC raised 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. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Finally, UBS Group started coverage on Celestica in a research note on Friday, November 22nd. They set a “neutral” rating and a $95.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Price Performance

The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The stock’s 50-day moving average price is $112.09 and its 200-day moving average price is $82.30. The company has a market capitalization of $12.44 billion, a price-to-earnings ratio of 28.60 and a beta of 2.27.

Insider Buying and Selling at Celestica

In other news, CEO Robert Mionis sold 52,588 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $6,707,073.52. Following the transaction, the chief executive officer now owns 531,417 shares of the company’s stock, valued at $67,776,924.18. This represents a 9.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alok K. Agrawal sold 6,826 shares of Celestica stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total value of $914,137.92. Following the completion of the sale, the insider now owns 9,224 shares of the company’s stock, valued at approximately $1,235,278.08. The trade was a 42.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 959,381 shares of company stock worth $119,142,019. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

A number of hedge funds and other institutional investors have recently bought and sold shares of CLS. FMR LLC lifted its stake in shares of Celestica by 91.2% in the 4th quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock valued at $1,078,804,000 after purchasing an additional 5,574,342 shares during the period. Whale Rock Capital Management LLC increased its holdings in Celestica by 13.0% in the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after purchasing an additional 975,163 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings 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 valued at $329,460,000 after purchasing an additional 1,401,877 shares during the last quarter. FIL Ltd lifted its stake in Celestica by 5,976.1% in the fourth quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock valued at $319,662,000 after buying an additional 3,406,723 shares during the period. Finally, Invesco Ltd. boosted its holdings in Celestica by 20.2% during the fourth quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company’s stock worth $271,622,000 after buying an additional 494,542 shares during the last quarter. 67.38% of the stock is owned by institutional investors.

About Celestica

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.