Celestica (NYSE:CLS) Trading Down 8.4% - What's Next?

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS's stock price traded down 8.4% on Monday . The stock traded as low as $78.86 and last traded at $80.17. 2,514,735 shares were traded during trading, a decline of 50% from the average session volume of 5,030,222 shares. The stock had previously closed at $87.53.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. CIBC raised shares of Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 target price on the stock in a research note on Friday, January 31st. UBS Group assumed 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. JPMorgan Chase & Co. started coverage on shares of Celestica in a research report on Friday, February 21st. They set an "overweight" rating and a $166.00 target price for the company. Barclays raised their price target on Celestica from $139.00 to $157.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Finally, TD Securities upped their price objective on Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Celestica currently has an average rating of "Moderate Buy" and a consensus price target of $110.83.

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Celestica Stock Up 3.6 %

The company has a market capitalization of $10.44 billion, a P/E ratio of 23.99 and a beta of 2.21. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The firm has a fifty day simple moving average of $110.87 and a 200-day simple moving average of $84.37.

Insider Buying and Selling

In related news, President Todd C. Cooper sold 65,000 shares of the company's stock in a transaction 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 transaction, the president now directly owns 110,426 shares of the company's stock, valued at approximately $14,331,086.28. This represents a 37.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alok K. Agrawal sold 6,826 shares of Celestica stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total value of $914,137.92. Following the completion of the sale, the insider now directly owns 9,224 shares in the company, valued at $1,235,278.08. This represents a 42.53 % decrease in their position. 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. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Celestica

Several institutional investors have recently bought and sold shares of the company. Sigma Planning Corp acquired a new stake in shares of Celestica in the third quarter valued at approximately $420,000. Nations Financial Group Inc. IA ADV grew its position in Celestica by 20.5% in the third quarter. Nations Financial Group Inc. IA ADV now owns 15,455 shares of the technology company's stock valued at $790,000 after purchasing an additional 2,625 shares in the last quarter. Entropy Technologies LP acquired a new stake in Celestica in the 3rd quarter valued at $2,234,000. Cumberland Partners Ltd increased its stake in Celestica by 83.1% in the 3rd quarter. Cumberland Partners Ltd now owns 10,800 shares of the technology company's stock valued at $553,000 after buying an additional 4,900 shares during the last quarter. Finally, Plato Investment Management Ltd bought a new stake in Celestica during the 3rd quarter worth about $188,000. 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.