Celestica (NYSE:CLS) Stock Price Down 0.2% – Here’s What Happened

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares fell 0.2% on Wednesday . The company traded as low as $128.03 and last traded at $132.04. 892,211 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 4,756,929 shares. The stock had previously closed at $132.29.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. CIBC upgraded shares of 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. TD Cowen lifted their price objective on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. 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. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Finally, Barclays upped their price target on shares of Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.82.

Celestica Stock Performance

The business’s fifty day moving average price is $107.98 and its 200-day moving average price is $78.37. The stock has a market cap of $15.69 billion, a PE ratio of 35.98 and a beta of 2.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Insider Activity at Celestica

In related 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 completion of the sale, the chief executive officer now owns 531,417 shares in the company, valued at approximately $67,776,924.18. This represents a 9.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Todd C. Cooper sold 9,538 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,216,476.52. Following the completion of the transaction, the president now directly owns 175,426 shares in the company, valued at $22,373,832.04. The trade was a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 959,381 shares of company stock worth $119,142,019 over the last quarter. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Independent Advisor Alliance grew its position in shares of Celestica by 0.3% during the 4th quarter. Independent Advisor Alliance now owns 29,588 shares of the technology company’s stock valued at $2,731,000 after acquiring an additional 79 shares during the period. Jones Financial Companies Lllp grew its holdings in Celestica by 4.6% during the fourth quarter. Jones Financial Companies Lllp now owns 2,034 shares of the technology company’s stock valued at $188,000 after purchasing an additional 89 shares during the period. CoreCap Advisors LLC grew its holdings in 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 purchasing an additional 90 shares during the period. Pinpoint Asset Management Ltd increased its position in Celestica by 109.6% in 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. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Celestica by 26.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock worth $67,000 after buying an additional 275 shares during the period. 67.38% of the stock is owned by hedge funds and other 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.