Celestica (NYSE:CLS) Trading Down 7.3% – Time to Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price dropped 7.3% on Thursday . The stock traded as low as $81.30 and last traded at $84.30. Approximately 2,465,276 shares were traded during trading, a decline of 50% from the average daily volume of 4,973,195 shares. The stock had previously closed at $90.95.

Analyst Ratings Changes

CLS has been the topic of several recent research reports. TD Securities boosted 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. CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price on the stock in a report on Friday, January 31st. Royal Bank of Canada boosted their target price on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Canaccord Genuity Group lifted their price target on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, Stifel Nicolaus upped their price objective on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Celestica has a consensus rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Stock Performance

The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The firm’s 50-day moving average is $111.72 and its two-hundred day moving average is $83.29. The stock has a market cap of $9.49 billion, a P/E ratio of 21.80 and a beta of 2.21.

Insider Buying and Selling

In other Celestica news, insider Alok K. Agrawal sold 6,826 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total value 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. This represents a 42.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Todd C. Cooper sold 9,538 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,216,476.52. Following the transaction, the president now owns 175,426 shares of the company’s stock, valued at approximately $22,373,832.04. This trade represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 959,381 shares of company stock valued at $119,142,019. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Peregrine Capital Management LLC bought a new stake in shares of Celestica during the 4th quarter worth approximately $30,000. Pinpoint Asset Management Ltd grew its holdings in Celestica by 109.6% in the fourth 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 period. Bessemer Group Inc. acquired a new position in shares of Celestica during the fourth quarter worth approximately $42,000. Private Trust Co. NA lifted its position in Celestica by 480.0% in the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after acquiring an additional 720 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of Celestica during the fourth quarter valued at about $51,000. 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.