Celestica (NYSE:CLS) Stock Price Down 7.1% – Time to Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price fell 7.1% during trading on Monday . The company traded as low as $75.59 and last traded at $76.85. 2,155,210 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 2,868,687 shares. The stock had previously closed at $82.69.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Royal Bank of Canada increased their price target on shares of Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. started coverage on shares of Celestica in a research note on Friday, February 21st. They set an “overweight” rating and a $166.00 price objective for the company. Stifel Nicolaus raised their target price on Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Barclays boosted their price target on Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Trading Down 3.8 %

The stock’s fifty day moving average price is $108.09 and its 200 day moving average price is $88.07. The stock has a market cap of $9.22 billion, a P/E ratio of 21.34 and a beta of 2.21. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Insider Buying and Selling

In other Celestica news, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction 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 transaction, the director now owns 1,784 shares in the company, valued at approximately $176,134.32. The trade was a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Mionis sold 441,325 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $122.28, for a total value of $53,965,221.00. Following the completion of the sale, the chief executive officer now directly owns 531,417 shares in the company, valued at $64,981,670.76. This trade represents a 45.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 959,381 shares of company stock valued at $119,142,019 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

Several large investors have recently modified their holdings of the stock. FMR LLC grew its position in Celestica by 91.2% during 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 last quarter. Whale Rock Capital Management LLC grew its holdings in shares of Celestica by 13.0% during 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 buying an additional 975,163 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Celestica by 64.6% during 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 acquiring an additional 1,401,877 shares in the last quarter. FIL Ltd raised its holdings in Celestica by 5,976.1% in the 4th quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock worth $319,662,000 after acquiring an additional 3,406,723 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Celestica by 20.2% in the 4th quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company’s stock worth $271,622,000 after acquiring an additional 494,542 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.