Insider Selling: Celestica Inc. (NYSE:CLS) Director Sells 25,000 Shares of Stock

Celestica Inc. (NYSE:CLS) (TSE:CLS) Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the transaction, the director now directly owns 1,784 shares of the company’s stock, valued at $176,134.32. This represents a 93.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Celestica Stock Up 4.4 %

CLS stock opened at $102.62 on Thursday. The business’s 50-day moving average is $88.45 and its two-hundred day moving average is $65.93. The company has a market cap of $11.94 billion, a price-to-earnings ratio of 32.58 and a beta of 2.25. Celestica Inc. has a fifty-two week low of $26.62 and a fifty-two week high of $103.46. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the firm posted $0.65 earnings per share. The firm’s revenue was up 24.8% compared to the same quarter last year. As a group, analysts forecast that Celestica Inc. will post 3.44 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. TD Securities raised their price objective on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Stifel Nicolaus lifted their price target on Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada upped their price target on shares of Celestica from $75.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday. Canaccord Genuity Group raised their price objective on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Barclays began coverage on shares of Celestica in a research note on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 target price on the stock. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Celestica has an average rating of “Moderate Buy” and a consensus target price of $81.45.

Institutional Investors Weigh In On Celestica

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Whale Rock Capital Management LLC grew its position 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 worth $432,846,000 after purchasing an additional 975,163 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Celestica during the third quarter valued at approximately $61,210,000. Dimensional Fund Advisors LP lifted its holdings in shares of Celestica by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock worth $68,024,000 after buying an additional 52,807 shares in the last quarter. Driehaus Capital Management LLC boosted its position in shares of Celestica by 19,876.9% during the second quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock worth $66,770,000 after acquiring an additional 1,158,823 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Celestica by 0.8% during the second quarter. Bank of Montreal Can now owns 1,150,806 shares of the technology company’s stock worth $68,470,000 after acquiring an additional 9,462 shares during the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

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.