Celestica (NYSE:CLS) Stock Price Down 0.5% – Here’s What Happened

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price was down 0.5% during trading on Wednesday . The company traded as low as $87.97 and last traded at $89.80. Approximately 1,099,150 shares changed hands during trading, a decline of 78% from the average daily volume of 4,964,271 shares. The stock had previously closed at $90.22.

Wall Street Analyst Weigh In

CLS has been the topic of a number of recent research reports. JPMorgan Chase & Co. assumed coverage on Celestica in a research report on Friday, February 21st. They issued an “overweight” rating and a $166.00 target price on the stock. 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. Barclays increased their price objective on Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target on the stock in a research report on Friday, January 31st. Finally, TD Securities increased their price target on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and an average target price of $110.83.

Celestica Stock Performance

The company has a fifty day moving average of $111.85 and a two-hundred day moving average of $83.24. The firm has a market capitalization of $10.58 billion, a price-to-earnings ratio of 24.32 and a beta of 2.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Insider Transactions at Celestica

In related news, President Todd C. Cooper sold 65,000 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was 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 approximately $14,331,086.28. This trade represents a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Mionis sold 441,325 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the completion of the transaction, the chief executive officer now directly owns 531,417 shares in the company, valued at approximately $64,981,670.76. This represents a 45.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Celestica

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Peregrine Capital Management LLC acquired a new position in shares of Celestica during the fourth quarter worth $30,000. Pinpoint Asset Management Ltd boosted its holdings in shares of Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock valued at $32,000 after acquiring an additional 182 shares in the last quarter. Bessemer Group Inc. acquired a new position in Celestica in the 4th quarter worth about $42,000. R Squared Ltd bought a new position in Celestica in the fourth quarter valued at about $51,000. Finally, IFP Advisors Inc boosted its stake in shares of Celestica by 122.7% during the fourth quarter. IFP Advisors Inc now owns 668 shares of the technology company’s stock valued at $62,000 after purchasing an additional 368 shares in the last quarter. 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.