Celestica (NYSE:CLS) Shares Down 0.5% – What’s Next?

Celestica Inc. (NYSE:CLS) (TSE:CLS) was down 0.5% during trading on Tuesday . The company traded as low as $131.20 and last traded at $131.46. Approximately 1,623,389 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 4,821,609 shares. The stock had previously closed at $132.06.

Analyst Ratings Changes

A number of brokerages have issued reports on CLS. Royal Bank of Canada lifted their target price on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. TD Cowen lifted their price objective on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Canaccord Genuity Group increased their target price on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. TD Securities boosted their price objective on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective on the stock in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Celestica currently has an average rating of “Moderate Buy” and an average target price of $104.91.

Celestica Stock Up 0.2 %

The stock has a fifty day moving average of $107.98 and a two-hundred day moving average of $78.37. 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 has a market cap of $15.40 billion, a price-to-earnings ratio of 35.38 and a beta of 2.27.

Insider Activity

In other Celestica news, insider Alok K. Agrawal sold 6,826 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 9,224 shares in the company, valued at $1,235,278.08. This represents a 42.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Todd C. Cooper sold 9,538 shares of Celestica stock in a transaction that occurred on 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 sale, the president now owns 175,426 shares in the company, valued at $22,373,832.04. This represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 959,381 shares of company stock valued at $119,142,019 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

A number of large investors have recently added to or reduced their stakes in the company. Creative Planning grew its stake in shares of Celestica by 36.1% during the third quarter. Creative Planning now owns 10,240 shares of the technology company’s stock valued at $523,000 after acquiring an additional 2,714 shares in the last quarter. Stratos Wealth Advisors LLC increased its holdings in Celestica by 20.0% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 4,200 shares of the technology company’s stock worth $215,000 after purchasing an additional 700 shares during the last quarter. Blue Trust Inc. raised its position in shares of Celestica by 97.3% in the 3rd quarter. Blue Trust Inc. now owns 14,433 shares of the technology company’s stock valued at $738,000 after purchasing an additional 7,119 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Celestica by 63.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 158,242 shares of the technology company’s stock valued at $8,089,000 after buying an additional 61,135 shares during the last quarter. Finally, Whittier Trust Co. grew its position in shares of Celestica by 8.4% during the third quarter. Whittier Trust Co. now owns 7,867 shares of the technology company’s stock worth $402,000 after buying an additional 608 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

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.