Celestica (NYSE:CLS) Shares Down 1.6% – Should You Sell?

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) were down 1.6% during mid-day trading on Friday . The stock traded as low as $101.18 and last traded at $106.15. Approximately 2,098,231 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 4,811,671 shares. The stock had previously closed at $107.87.

Analyst Upgrades and Downgrades

CLS has been the topic of several research analyst reports. Canaccord Genuity Group raised their price objective on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Barclays raised their price target on Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. initiated coverage on Celestica in a research report on Friday, February 21st. They issued an “overweight” rating and a $166.00 price objective for the company. Royal Bank of Canada raised their target price on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, Stifel Nicolaus upped their price target on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Two 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Stock Down 0.9 %

The firm’s 50-day simple moving average is $112.09 and its 200 day simple moving average is $82.30. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The stock has a market capitalization of $12.44 billion, a P/E ratio of 28.60 and a beta of 2.27.

Insider Buying and Selling

In other news, President Todd C. Cooper sold 65,000 shares of the company’s stock in a transaction that occurred on 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 represents a 37.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now directly owns 1,784 shares of the company’s stock, valued at $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 959,381 shares of company stock worth $119,142,019. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

A number of institutional investors and hedge funds have recently modified their holdings of CLS. FMR LLC increased its position in Celestica by 91.2% during the fourth quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock worth $1,078,804,000 after buying an additional 5,574,342 shares during the last quarter. Whale Rock Capital Management LLC boosted its stake in shares of Celestica by 13.0% during the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after acquiring an additional 975,163 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Celestica by 64.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock worth $329,460,000 after acquiring an additional 1,401,877 shares during the last quarter. FIL Ltd raised its stake in Celestica by 5,976.1% in the 4th quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock valued at $319,662,000 after acquiring an additional 3,406,723 shares during the period. Finally, Invesco Ltd. lifted its holdings in Celestica by 20.2% during the 4th quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company’s stock valued at $271,622,000 after purchasing an additional 494,542 shares during the last quarter. 67.38% of the stock is owned by 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.