Celestica (NYSE:CLS) Trading Down 6% – Time to Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS) was down 6% on Thursday . The company traded as low as $122.08 and last traded at $123.72. Approximately 1,602,470 shares were traded during trading, a decline of 66% from the average daily volume of 4,720,643 shares. The stock had previously closed at $131.58.

Analyst Ratings Changes

A number of brokerages have recently commented on CLS. Canaccord Genuity Group boosted their price target on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. UBS Group began coverage on Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target for the company. Stifel Nicolaus upped their price target on shares of Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, CIBC upgraded 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. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Trading Down 4.5 %

The stock has a market capitalization of $13.89 billion, a PE ratio of 31.93 and a beta of 2.27. The stock has a 50-day moving average price of $110.78 and a two-hundred day moving average price of $80.16. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Insiders Place Their Bets

In other news, insider Alok K. Agrawal sold 6,826 shares of Celestica stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total value of $914,137.92. Following the sale, the insider now directly owns 9,224 shares of the company’s stock, valued at approximately $1,235,278.08. The trade was a 42.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Wilson sold 25,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the transaction, the director now directly owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. The trade was a 93.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 959,381 shares of company stock worth $119,142,019 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CLS. Cornerstone Wealth Management LLC bought a new position in Celestica during the fourth quarter valued at $385,000. Quantbot Technologies LP raised its position in shares of Celestica by 120.9% during the 3rd quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock valued at $5,299,000 after buying an additional 56,732 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Celestica in the 3rd quarter valued at about $61,210,000. Sigma Planning Corp purchased a new position in Celestica in the third quarter worth about $420,000. Finally, Advisors Asset Management Inc. increased its stake in Celestica by 61.9% during the third quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock worth $1,682,000 after acquiring an additional 12,584 shares during the last quarter. 67.38% of the stock is 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.