Celestica (NYSE:CLS) Shares Down 2.3% Following Insider Selling

Celestica Inc. (NYSE:CLS) (TSE:CLS) was down 2.3% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $125.35 and last traded at $127.21. Approximately 1,054,541 shares were traded during trading, a decline of 79% from the average daily volume of 5,047,388 shares. The stock had previously closed at $130.23.

Specifically, President Todd C. Cooper sold 65,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the president now directly owns 110,426 shares in the company, valued at approximately $14,331,086.28. This trade represents a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert Mionis sold 75,000 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total value of $10,596,750.00. Following the completion of the transaction, the chief executive officer now directly owns 456,417 shares in the company, valued at $64,487,157.93. This represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. In other news, CEO Robert Mionis sold 441,325 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the completion of the sale, the chief executive officer now owns 531,417 shares in the company, valued at approximately $64,981,670.76. This represents a 45.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CLS shares. UBS Group began coverage on Celestica in a research report on Friday, November 22nd. They set a “neutral” rating and a $95.00 target price on the stock. 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. Royal Bank of Canada raised their target price on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. TD Cowen boosted their price target on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Barclays raised their price objective on shares of Celestica from $91.00 to $139.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and an average target price of $103.27.

Celestica Trading Up 2.3 %

The company’s 50 day simple moving average is $105.64 and its two-hundred day simple moving average is $76.47. The stock has a market cap of $15.07 billion, a price-to-earnings ratio of 34.63 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.

Hedge Funds Weigh In On Celestica

A number of hedge funds have recently modified their holdings of CLS. Optimum Investment Advisors boosted its position in Celestica by 66.7% during the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of Celestica during the 3rd quarter worth about $30,000. Peregrine Capital Management LLC purchased a new stake in shares of Celestica during the 4th quarter worth about $30,000. UMB Bank n.a. acquired a new stake in shares of Celestica during the 3rd quarter valued at about $34,000. Finally, Private Trust Co. NA grew its stake in shares of Celestica by 480.0% in the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after buying an additional 720 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

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.