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

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) traded down 0.5% during mid-day trading on Tuesday . The stock traded as low as $131.20 and last traded at $131.46. 1,623,389 shares traded hands during trading, a decline of 66% from the average session volume of 4,821,609 shares. The stock had previously closed at $132.06.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. TD Securities lifted their price objective on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Barclays lifted their price target on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Stifel Nicolaus initiated coverage on shares of Celestica in a research note on Tuesday, February 4th. They set a “buy” rating and a $140.00 price objective on the stock. Canaccord Genuity Group lifted their target price on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, UBS Group assumed coverage on Celestica in a research report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Celestica has an average rating of “Moderate Buy” and an average price target of $104.91.

Celestica Trading Up 0.2 %

The firm has a 50-day moving average of $107.98 and a 200 day moving average of $78.37. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $15.40 billion, a price-to-earnings ratio of 35.38 and a beta of 2.27.

Insider Activity

In other Celestica news, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the transaction, the director now owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Todd C. Cooper sold 65,000 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 959,381 shares of company stock valued at $119,142,019. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Institutional investors have recently added to or reduced their stakes in the company. Independent Advisor Alliance raised its stake in shares of Celestica by 0.3% in the 4th quarter. Independent Advisor Alliance now owns 29,588 shares of the technology company’s stock worth $2,731,000 after buying an additional 79 shares in the last quarter. Jones Financial Companies Lllp raised its position in Celestica by 4.6% in the fourth quarter. Jones Financial Companies Lllp now owns 2,034 shares of the technology company’s stock worth $188,000 after acquiring an additional 89 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in Celestica by 5.4% in the 4th quarter. CoreCap Advisors LLC now owns 1,760 shares of the technology company’s stock valued at $162,000 after acquiring an additional 90 shares during the last quarter. Pinpoint Asset Management Ltd grew its stake in shares of Celestica by 109.6% in the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock worth $32,000 after purchasing an additional 182 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Celestica by 26.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock worth $67,000 after purchasing an additional 275 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.