Celestica (NYSE:CLS) Stock Price Down 7.1% – Here’s Why

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price fell 7.1% during trading on Monday . The stock traded as low as $75.59 and last traded at $76.85. 2,155,210 shares traded hands during trading, a decline of 25% from the average session volume of 2,868,687 shares. The stock had previously closed at $82.69.

Wall Street Analyst Weigh In

CLS has been the subject of a number of recent analyst reports. 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. Stifel Nicolaus lifted their price target on shares of Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. TD Securities increased their price objective on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Barclays boosted their target price on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Stock Down 3.8 %

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 company has a fifty day simple moving average of $108.09 and a 200-day simple moving average of $88.07. The firm has a market cap of $9.22 billion, a P/E ratio of 21.34 and a beta of 2.21.

Insider Activity

In other news, President Todd C. Cooper sold 9,538 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,216,476.52. Following the sale, the president now directly owns 175,426 shares in the company, valued at $22,373,832.04. This trade represents a 5.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert Mionis sold 441,325 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was 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. This represents a 45.37 % 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 valued at $119,142,019 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

A number of hedge funds have recently made changes to their positions in the business. FMR LLC lifted its holdings in Celestica by 91.2% in the 4th quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock worth $1,078,804,000 after purchasing an additional 5,574,342 shares in the last quarter. FIL Ltd grew its holdings in Celestica by 5,976.1% during the 4th quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock valued at $319,662,000 after buying an additional 3,406,723 shares in the last quarter. Norges Bank bought a new stake in shares of Celestica during the fourth quarter valued at approximately $139,008,000. Polar Capital Holdings Plc lifted its holdings in shares of Celestica by 822.6% in the fourth quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company’s stock worth $148,416,000 after buying an additional 1,433,681 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Celestica by 64.6% during the fourth 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. Institutional investors own 67.38% of the company’s stock.

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.