Celestica (NYSE:CLS) Stock Price Down 2.5% – Time to Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price traded down 2.5% during trading on Thursday . The stock traded as low as $81.98 and last traded at $85.50. 1,511,815 shares were traded during trading, a decline of 68% from the average session volume of 4,794,852 shares. The stock had previously closed at $87.66.

Analyst Ratings Changes

CLS has been the subject of several analyst reports. CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. started coverage on Celestica in a research report on Friday, February 21st. They issued an “overweight” rating and a $166.00 price objective on the stock. Canaccord Genuity Group lifted their target price on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Barclays raised 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. Finally, TD Securities raised their target price on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Two investment 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. According to MarketBeat.com, Celestica has an average rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Stock Performance

The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The stock has a market cap of $9.82 billion, a PE ratio of 22.64 and a beta of 2.21. The business’s 50-day moving average price is $109.61 and its 200-day moving average price is $87.50.

Insiders Place Their Bets

In other news, President Todd C. Cooper sold 65,000 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the transaction, the president now owns 110,426 shares in the company, valued at $14,331,086.28. This represents a 37.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the completion of the sale, the director now owns 1,784 shares of the company’s stock, valued at $176,134.32. This trade represents a 93.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Celestica

Several hedge funds have recently made changes to their positions in CLS. Cornerstone Wealth Management LLC acquired a new position in shares of Celestica in the fourth quarter valued at about $385,000. Quantbot Technologies LP increased its holdings in Celestica by 120.9% in the 3rd quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock worth $5,299,000 after buying an additional 56,732 shares during the period. Raymond James Financial Inc. purchased a new position in Celestica during the 4th quarter worth approximately $47,685,000. Schechter Investment Advisors LLC purchased a new position in Celestica during the 4th quarter worth approximately $294,000. Finally, XTX Topco Ltd acquired a new stake in Celestica during the 3rd quarter valued at approximately $1,580,000. 67.38% of the stock is owned by institutional investors and hedge funds.

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.