Celestica (NYSE:CLS) Stock Price Down 0.2% – Time to Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares dropped 0.2% on Wednesday . The company traded as low as $128.03 and last traded at $132.04. Approximately 892,211 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 4,756,929 shares. The stock had previously closed at $132.29.

Analysts Set New Price Targets

Several analysts have recently commented on CLS shares. Canaccord Genuity Group raised their price objective on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Royal Bank of Canada raised their price target on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. BMO Capital Markets increased their target price on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, UBS Group assumed coverage on Celestica in a report on Friday, November 22nd. They issued 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.82.

Celestica Price Performance

The company has a market cap of $15.69 billion, a P/E ratio of 35.98 and a beta of 2.27. The firm’s 50-day moving average is $107.98 and its two-hundred day moving average is $78.37. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

Insider Transactions at Celestica

In other Celestica news, CEO Robert Mionis sold 441,325 shares of Celestica stock in a transaction on 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 of the company’s stock, valued at $64,981,670.76. The trade was a 45.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Todd C. Cooper sold 65,000 shares of the business’s stock in a transaction 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 transaction, 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 position. 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 three months. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

A number of large investors have recently made changes to their positions in CLS. Peregrine Capital Management LLC bought a new stake in Celestica in the fourth quarter worth about $30,000. Pinpoint Asset Management Ltd lifted its stake 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 worth $32,000 after acquiring an additional 182 shares during the last quarter. Bessemer Group Inc. purchased a new position in Celestica during the 4th quarter valued at $42,000. R Squared Ltd bought a new position in Celestica in the 4th quarter valued at $51,000. Finally, Financial Management Professionals Inc. purchased a new stake in Celestica in the third quarter worth $30,000. 67.38% of the stock is 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.