Insider Selling: Celestica Inc. (NYSE:CLS) President Sells $8,435,700.00 in Stock

Celestica Inc. (NYSE:CLS) (TSE:CLS) President Todd C. Cooper sold 65,000 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $129.78, for a total value 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 trade represents a 37.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Celestica Stock Performance

NYSE CLS opened at $129.50 on Thursday. 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 stock’s fifty day moving average is $105.64 and its two-hundred day moving average is $76.47. The firm has a market capitalization of $15.07 billion, a P/E ratio of 34.63 and a beta of 2.27. Celestica Inc. has a fifty-two week low of $36.00 and a fifty-two week high of $144.27.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Independent Advisor Alliance increased its position in Celestica by 0.3% during the fourth quarter. Independent Advisor Alliance now owns 29,588 shares of the technology company’s stock worth $2,731,000 after purchasing an additional 79 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Celestica by 4.6% in the 4th quarter. Jones Financial Companies Lllp now owns 2,034 shares of the technology company’s stock valued at $188,000 after buying an additional 89 shares during the period. Optimum Investment Advisors increased its holdings in shares of Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after buying an additional 200 shares during the last quarter. Truist Financial Corp raised its position in shares of Celestica by 2.0% during the 2nd quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock valued at $631,000 after buying an additional 214 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in 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 valued at $67,000 after acquiring an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CLS. Canaccord Genuity Group upped 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. Barclays raised their price target on shares of Celestica from $91.00 to $139.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Stifel Nicolaus began coverage on Celestica in a report on Tuesday, February 4th. They issued a “buy” rating and a $140.00 price objective on the stock. Royal Bank of Canada increased their target price on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Finally, Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.27.

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.