Celestica (NYSE:CLS) Trading Down 0.5% - Time to Sell?

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS was down 0.5% during mid-day trading on Wednesday . The stock traded as low as $87.97 and last traded at $89.80. Approximately 1,099,150 shares changed hands during trading, a decline of 78% from the average daily volume of 4,964,271 shares. The stock had previously closed at $90.22.

Wall Street Analyst Weigh In

Several research firms recently commented on CLS. CIBC upgraded Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 target price on the stock in a research report on Friday, January 31st. UBS Group initiated coverage on shares of Celestica in a research note on Friday, November 22nd. They set a "neutral" rating and a $95.00 price objective on the stock. Cibc World Mkts raised shares of Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. JPMorgan Chase & Co. initiated coverage on shares of Celestica in a research note on Friday, February 21st. They issued an "overweight" rating and a $166.00 price target for the company. Finally, TD Securities upped their target price on Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Two 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $110.83.

Remove Ads

Celestica Trading Down 7.2 %

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 stock has a market cap of $9.45 billion, a price-to-earnings ratio of 21.71 and a beta of 2.21. The company has a fifty day simple moving average of $111.23 and a 200-day simple moving average of $83.93.

Insider Activity

In related news, President Todd C. Cooper sold 65,000 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the completion of the sale, the president now directly owns 110,426 shares in the company, valued at approximately $14,331,086.28. This trade represents a 37.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Yann L. Etienvre sold 9,181 shares of the company'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 completion of the transaction, the insider now owns 83,179 shares in the company, valued at approximately $10,608,649.66. This represents a 9.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock worth $119,142,019 over the last quarter. Corporate insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CLS. Park Square Financial Group LLC bought a new stake in shares of Celestica in the 4th quarter valued at approximately $345,000. Mackenzie Financial Corp increased its stake in shares of Celestica by 39.3% during the 4th quarter. Mackenzie Financial Corp now owns 761,084 shares of the technology company's stock worth $70,164,000 after purchasing an additional 214,872 shares during the last quarter. Invst LLC raised its holdings in shares of Celestica by 11.7% during the 4th quarter. Invst LLC now owns 11,243 shares of the technology company's stock valued at $1,038,000 after purchasing an additional 1,174 shares in the last quarter. Vise Technologies Inc. lifted its stake in shares of Celestica by 100.9% in the 4th quarter. Vise Technologies Inc. now owns 44,564 shares of the technology company's stock valued at $4,113,000 after purchasing an additional 22,387 shares during the last quarter. Finally, Castleark Management LLC bought a new stake in Celestica in the fourth quarter worth $9,378,000. 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.