Celestica (NYSE:CLS) Stock Price Down 0.9% After Insider Selling

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price traded down 0.9% during mid-day trading on Monday following insider selling activity. The stock traded as low as $124.02 and last traded at $128.59. 1,617,778 shares changed hands during trading, a decline of 68% from the average session volume of 5,132,396 shares. The stock had previously closed at $129.70.

Specifically, President Todd C. Cooper sold 65,000 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $129.78, for a total value of $8,435,700.00. Following the transaction, the president now directly owns 110,426 shares of the company’s stock, valued at $14,331,086.28. This represents a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Mionis sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total transaction of $10,596,750.00. Following the transaction, the chief executive officer now directly owns 456,417 shares in the company, valued at approximately $64,487,157.93. This represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Celestica news, CEO Robert Mionis sold 441,325 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 531,417 shares in the company, valued at $64,981,670.76. This represents a 45.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Wall Street Analyst Weigh In

CLS has been the topic of a number of research analyst reports. Barclays raised their price target on shares of Celestica from $91.00 to $139.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Stifel Nicolaus started coverage on shares of Celestica in a research report on Tuesday, February 4th. They set a “buy” rating and a $140.00 target price on the stock. TD Securities lifted their target price on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, TD Cowen lifted their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.27.

Celestica Stock Up 2.3 %

The stock has a 50 day moving average of $104.85 and a 200-day moving average of $76.10. The firm has a market capitalization of $15.07 billion, a P/E ratio of 34.63 and a beta of 2.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Institutional Trading of Celestica

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLS. Peregrine Capital Management LLC bought a new position in shares of Celestica during the fourth quarter valued at $30,000. Optimum Investment Advisors increased its holdings in Celestica by 66.7% in the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after buying an additional 200 shares in the last quarter. R Squared Ltd bought a new stake in Celestica in the 4th quarter worth about $51,000. Financial Management Professionals Inc. bought a new stake in Celestica in the 3rd quarter worth about $30,000. Finally, UMB Bank n.a. bought a new stake in Celestica in the 3rd quarter worth about $34,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.