Celestica (NYSE:CLS) Stock Price Down 4.7% – Time to Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price was down 4.7% during trading on Tuesday . The company traded as low as $86.18 and last traded at $88.45. Approximately 2,973,340 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 4,947,832 shares. The stock had previously closed at $92.80.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CLS shares. UBS Group began coverage on shares of Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price objective for the company. Canaccord Genuity Group upped their price target on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. JPMorgan Chase & Co. began coverage on Celestica in a research note on Friday, February 21st. They issued an “overweight” rating and a $166.00 price objective on the stock. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Finally, TD Securities raised their target price on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $110.83.

Celestica Price Performance

The company has a market cap of $10.50 billion, a price-to-earnings ratio of 24.13 and a beta of 2.27. 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 company has a fifty day moving average price of $112.00 and a two-hundred day moving average price of $82.99.

Insider Buying and Selling

In other news, Director Michael Wilson sold 25,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the transaction, the director now owns 1,784 shares in the company, valued at approximately $176,134.32. This represents a 93.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Yann L. Etienvre sold 83,179 shares of Celestica stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $122.28, for a total transaction of $10,171,128.12. Following the sale, the insider now owns 9,224 shares in the company, valued at approximately $1,127,910.72. This trade represents a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 959,381 shares of company stock valued at $119,142,019 over the last ninety days. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Celestica

Large investors have recently modified their holdings of the stock. Park Square Financial Group LLC acquired a new stake in Celestica in the 4th quarter valued at $345,000. Mackenzie Financial Corp lifted its holdings in shares of Celestica by 39.3% during the fourth quarter. Mackenzie Financial Corp now owns 761,084 shares of the technology company’s stock valued at $70,164,000 after acquiring an additional 214,872 shares during the period. Invst LLC boosted its stake in shares of Celestica by 11.7% in the 4th quarter. Invst LLC now owns 11,243 shares of the technology company’s stock valued at $1,038,000 after purchasing an additional 1,174 shares in the last quarter. Vise Technologies Inc. grew its holdings in shares of Celestica by 100.9% in the 4th quarter. Vise Technologies Inc. now owns 44,564 shares of the technology company’s stock worth $4,113,000 after purchasing an additional 22,387 shares during the last quarter. Finally, Castleark Management LLC acquired a new stake in shares of Celestica during the 4th quarter worth about $9,378,000. 67.38% of the stock is currently owned by institutional investors.

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.