Celestica (NYSE:CLS) Stock Price Down 4.2% - Time to Sell?

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS shares fell 4.2% on Tuesday . The stock traded as low as $86.23 and last traded at $87.96. 1,241,015 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 2,712,737 shares. The stock had previously closed at $91.78.

Analysts Set New Price Targets

CLS has been the topic of several analyst reports. JPMorgan Chase & Co. initiated coverage on Celestica in a report on Friday, February 21st. They set an "overweight" rating and a $166.00 price objective on the stock. Cibc World Mkts raised Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Royal Bank of Canada upped their price objective on shares of Celestica from $115.00 to $140.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Canaccord Genuity Group raised their target price on shares of Celestica from $77.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Finally, Barclays upped their price target 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 research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $110.83.

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Celestica Price Performance

The company's fifty day moving average is $109.73 and its two-hundred day moving average is $87.11. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The firm has a market cap of $11.58 billion, a price-to-earnings ratio of 26.71 and a beta of 2.21.

Insiders Place Their Bets

In other Celestica news, President Todd C. Cooper sold 65,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the president now owns 110,426 shares of the company's stock, valued at $14,331,086.28. This trade represents a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Mionis sold 52,588 shares of Celestica 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 $6,707,073.52. Following the sale, the chief executive officer now owns 531,417 shares in the company, valued at $67,776,924.18. This represents a 9.00 % 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 worth $119,142,019 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Celestica

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLS. FMR LLC boosted 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. FIL Ltd lifted its stake in shares of Celestica by 5,976.1% in the fourth quarter. FIL Ltd now owns 3,463,729 shares of the technology company's stock worth $319,662,000 after acquiring an additional 3,406,723 shares in the last quarter. Norges Bank purchased a new position in Celestica in the fourth quarter valued at about $139,008,000. Polar Capital Holdings Plc grew its stake in Celestica by 822.6% during the 4th quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company's stock valued at $148,416,000 after purchasing an additional 1,433,681 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Celestica by 64.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company's stock valued at $329,460,000 after purchasing an additional 1,401,877 shares in the last quarter. Hedge funds and other 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.