Celestica (NYSE:CLS) Trading Down 0.4% After Insider Selling

Celestica Inc. (NYSE:CLS) (TSE:CLS) traded down 0.4% during trading on Friday following insider selling activity. The stock traded as low as $132.08 and last traded at $132.63. 2,349,099 shares traded hands during trading, a decline of 54% from the average session volume of 5,153,824 shares. The stock had previously closed at $133.22.

Specifically, CEO Robert Mionis sold 75,000 shares of the business’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 sale, the chief executive officer now directly owns 456,417 shares of the company’s stock, valued at approximately $64,487,157.93. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Mionis sold 441,325 shares of Celestica stock in a transaction dated 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 sale, the chief executive officer now directly owns 531,417 shares of the company’s stock, valued at $64,981,670.76. The trade was a 45.37 % decrease in their position. The disclosure for this sale can be found here. In related news, insider Alok K. Agrawal sold 6,826 shares of Celestica stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total transaction of $914,137.92. Following the completion of the sale, the insider now 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CLS shares. TD Securities lifted their target price on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Stifel Nicolaus assumed coverage on shares of Celestica in a report on Tuesday. They set a “buy” rating and a $140.00 target price for the company. 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 report on Friday, January 31st. BMO Capital Markets upped their price target on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada upped their price target on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.27.

Celestica Price Performance

The stock has a market capitalization of $15.50 billion, a P/E ratio of 35.46 and a beta of 2.27. The business’s 50 day simple moving average is $101.31 and its two-hundred day simple moving average is $73.83. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLS. Optimum Investment Advisors grew its stake in Celestica by 66.7% in 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 in the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Celestica in the 3rd quarter worth approximately $30,000. Peregrine Capital Management LLC bought a new stake in shares of Celestica in the 4th quarter worth approximately $30,000. UMB Bank n.a. bought a new stake in shares of Celestica in the 3rd quarter worth approximately $34,000. Finally, Private Trust Co. NA lifted its holdings 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 worth $44,000 after acquiring an additional 720 shares during the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

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.