Celestica (NYSE:CLS) Trading Down 0.5% - Here's Why

Shares of Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS were down 0.5% during mid-day trading on Tuesday . The company traded as low as $131.20 and last traded at $131.46. Approximately 1,623,389 shares were traded during trading, a decline of 66% from the average daily volume of 4,821,609 shares. The stock had previously closed at $132.06.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CLS shares. Barclays upped their price objective 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. UBS Group started coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a "neutral" rating and a $95.00 price objective on the stock. TD Cowen upped their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Cibc World Mkts upgraded shares of Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. 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. Two investment 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $110.83.

Celestica Trading Down 4.5 %

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's fifty day moving average is $110.38 and its 200-day moving average is $79.66. The firm has a market capitalization of $13.89 billion, a P/E ratio of 31.93 and a beta of 2.27.

Insider Buying and Selling

In other Celestica news, CEO Robert Mionis sold 441,325 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $122.28, for a total value of $53,965,221.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alok K. Agrawal sold 6,826 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total transaction of $914,137.92. Following the completion of the sale, the insider now directly owns 9,224 shares of the company's stock, 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. In the last three months, insiders sold 959,381 shares of company stock valued at $119,142,019. Company 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 made changes to their positions in the business. Independent Advisor Alliance increased its position in shares of Celestica by 0.3% during the 4th quarter. Independent Advisor Alliance now owns 29,588 shares of the technology company's stock worth $2,731,000 after purchasing an additional 79 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Celestica by 4.6% in the 4th quarter. Jones Financial Companies Lllp now owns 2,034 shares of the technology company's stock valued at $188,000 after purchasing an additional 89 shares during the last quarter. CoreCap Advisors LLC boosted its stake in shares of Celestica by 5.4% in the 4th quarter. CoreCap Advisors LLC now owns 1,760 shares of the technology company's stock valued at $162,000 after purchasing an additional 90 shares during the last quarter. Pinpoint Asset Management Ltd boosted its stake in Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock worth $32,000 after acquiring an additional 182 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in Celestica by 26.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company's stock worth $67,000 after acquiring an additional 275 shares during the last quarter. 67.38% of the stock is 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.