Celestica (NYSE:CLS) Stock Price Down 0.3% - Here's Why

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS's stock price traded down 0.3% on Monday . The company traded as low as $89.00 and last traded at $91.31. 941,455 shares were traded during trading, a decline of 81% from the average session volume of 4,983,275 shares. The stock had previously closed at $91.58.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Celestica from $115.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. CIBC upgraded shares of Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price objective for the company in a research report on Friday, January 31st. Stifel Nicolaus upped their price objective on shares of Celestica from $140.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. UBS Group assumed coverage on shares of Celestica in a research report on Friday, November 22nd. They set a "neutral" rating and a $95.00 price objective for the company. Finally, Barclays upped their price objective on shares of Celestica from $139.00 to $157.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $110.83.

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Celestica Price Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The stock's fifty day moving average is $109.89 and its 200-day moving average is $85.85. The stock has a market cap of $11.16 billion, a PE ratio of 25.64 and a beta of 2.21.

Insider Activity at Celestica

In other news, insider Yann L. Etienvre sold 9,181 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,170,944.74. Following the transaction, the insider now directly owns 83,179 shares in the company, valued at approximately $10,608,649.66. This trade represents a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alok K. Agrawal sold 6,826 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total transaction of $914,137.92. Following the transaction, the insider now owns 9,224 shares in the company, valued at approximately $1,235,278.08. This trade represents a 42.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Celestica

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC grew its position in Celestica by 91.2% in the 4th quarter. FMR LLC now owns 11,688,700 shares of the technology company's stock valued at $1,078,804,000 after buying an additional 5,574,342 shares during the last quarter. Whale Rock Capital Management LLC lifted its holdings in Celestica by 13.0% in the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company's stock valued at $432,846,000 after acquiring an additional 975,163 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Celestica by 64.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company's stock valued at $329,460,000 after acquiring an additional 1,401,877 shares during the period. FIL Ltd lifted its holdings in Celestica by 5,976.1% in the fourth 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% in the fourth quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company's stock valued at $271,622,000 after acquiring an additional 494,542 shares during the period. 67.38% of the stock is currently owned by hedge funds and other 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.