Celestica (NYSE:CLS) Shares Down 6% – What’s Next?

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares traded down 6% during mid-day trading on Thursday . The company traded as low as $122.08 and last traded at $123.72. 1,602,470 shares were traded during mid-day trading, a decline of 66% from the average session volume of 4,720,643 shares. The stock had previously closed at $131.58.

Analyst Ratings Changes

Several research firms have commented on CLS. JPMorgan Chase & Co. started coverage on shares of Celestica in a research note on Friday. They set an “overweight” rating and a $166.00 price objective for the company. Royal Bank of Canada lifted their price target on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Canaccord Genuity Group increased their price objective 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. UBS Group began coverage on Celestica in a research report on Friday, November 22nd. They set a “neutral” rating and a $95.00 target price for the company. Finally, TD Securities raised their price target on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $110.83.

Celestica Stock Down 4.5 %

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The company has a fifty day simple moving average of $110.78 and a two-hundred day simple moving average of $80.16. The firm has a market capitalization of $13.89 billion, a PE ratio of 31.93 and a beta of 2.27.

Insider Activity at Celestica

In related news, CEO Robert Mionis sold 441,325 shares of Celestica stock in a transaction that occurred on 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 of the company’s stock, valued at $64,981,670.76. This trade represents a 45.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Alok K. Agrawal sold 6,826 shares of the company’s stock in a transaction 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 sale, the insider now owns 9,224 shares of the company’s stock, valued at approximately $1,235,278.08. This represents a 42.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock worth $119,142,019 over the last three months. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Celestica

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Independent Advisor Alliance boosted its holdings in shares of Celestica by 0.3% in the 4th quarter. Independent Advisor Alliance now owns 29,588 shares of the technology company’s stock valued at $2,731,000 after buying an additional 79 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Celestica by 4.6% during the fourth quarter. Jones Financial Companies Lllp now owns 2,034 shares of the technology company’s stock worth $188,000 after acquiring an additional 89 shares during the last quarter. CoreCap Advisors LLC increased its holdings in shares of Celestica by 5.4% during the fourth quarter. CoreCap Advisors LLC now owns 1,760 shares of the technology company’s stock valued at $162,000 after acquiring an additional 90 shares in the last quarter. Pinpoint Asset Management Ltd raised its position 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 last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in Celestica by 26.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock worth $67,000 after purchasing an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.