Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS fell 7.9% during trading on Monday . The company traded as low as $98.70 and last traded at $98.59. 2,517,957 shares changed hands during trading, a decline of 48% from the average session volume of 4,853,018 shares. The stock had previously closed at $107.05.
Wall Street Analysts Forecast Growth
CLS has been the subject of several analyst reports. UBS Group initiated coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a "neutral" rating and a $95.00 target price for the company. 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 report on Wednesday, February 19th. TD Securities lifted 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. Canaccord Genuity Group increased their price target on Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. assumed coverage on Celestica in a report on Friday, February 21st. They set an "overweight" rating and a $166.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Celestica presently has an average rating of "Moderate Buy" and an average price target of $110.83.
Check Out Our Latest Analysis on Celestica
Celestica Price Performance
The stock has a market capitalization of $10.58 billion, a P/E ratio of 24.30 and a beta of 2.21. The company has a 50 day moving average of $111.85 and a 200-day moving average of $83.24. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.
Insider Activity at Celestica
In related news, CEO Robert Mionis sold 441,325 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $122.28, for a total value of $53,965,221.00. Following the sale, the chief executive officer now owns 531,417 shares of the company's stock, valued at approximately $64,981,670.76. This trade represents a 45.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alok K. Agrawal sold 6,826 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total value of $914,137.92. Following the transaction, the insider now owns 9,224 shares of the company's stock, valued at $1,235,278.08. This represents a 42.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 959,381 shares of company stock valued at $119,142,019 in the last quarter. Insiders own 1.00% of the company's stock.
Institutional Investors Weigh In On Celestica
Large investors have recently added to or reduced their stakes in the stock. FMR LLC grew its position in shares of Celestica by 91.2% during the fourth quarter. FMR LLC now owns 11,688,700 shares of the technology company's stock worth $1,078,804,000 after acquiring an additional 5,574,342 shares during the last quarter. Whale Rock Capital Management LLC boosted its stake in Celestica by 13.0% during the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company's stock valued at $432,846,000 after purchasing an additional 975,163 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Celestica by 64.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company's stock worth $329,460,000 after purchasing an additional 1,401,877 shares during the last quarter. FIL Ltd increased 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 valued at $319,662,000 after purchasing an additional 3,406,723 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Celestica by 20.2% during the fourth quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company's stock valued at $271,622,000 after buying an additional 494,542 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.
Celestica Company Profile
(
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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.
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