Celestica (NYSE:CLS) Shares Gap Down on Insider Selling

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS gapped down before the market opened on Monday following insider selling activity. The stock had previously closed at $129.70, but opened at $125.00. Celestica shares last traded at $130.47, with a volume of 917,065 shares traded.

Specifically, President Todd C. Cooper sold 65,000 shares of the company's stock in a transaction on Friday, February 7th. The stock was 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 owns 110,426 shares in the company, valued at approximately $14,331,086.28. This represents a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert Mionis sold 75,000 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total value of $10,596,750.00. Following the sale, the chief executive officer now owns 456,417 shares of the company's stock, valued at $64,487,157.93. This trade represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. In related news, CEO Robert Mionis sold 441,325 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the completion of the sale, the chief executive officer now owns 531,417 shares in the company, valued at approximately $64,981,670.76. This represents a 45.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

Several research analysts have weighed in on CLS shares. Stifel Nicolaus started coverage on Celestica in a research report on Tuesday, February 4th. They issued a "buy" rating and a $140.00 price objective on the stock. Cibc World Mkts raised Celestica from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. TD Securities upped their price target on Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Barclays increased their price objective on Celestica from $139.00 to $157.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, TD Cowen upped their target price on Celestica from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Celestica presently has an average rating of "Moderate Buy" and an average target price of $104.91.

Celestica Price Performance

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 stock has a market capitalization of $15.38 billion, a P/E ratio of 35.34 and a beta of 2.27. The firm has a 50-day moving average price of $107.15 and a 200 day moving average price of $77.41.

Hedge Funds Weigh In On Celestica

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cornerstone Wealth Management LLC bought a new position in Celestica during the 4th quarter worth approximately $385,000. Quantbot Technologies LP grew its position in Celestica by 120.9% during the 3rd quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company's stock worth $5,299,000 after acquiring an additional 56,732 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Celestica during the 3rd quarter worth approximately $61,210,000. Sigma Planning Corp bought a new position in Celestica during the 3rd quarter worth approximately $420,000. Finally, Advisors Asset Management Inc. grew its position in Celestica by 61.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company's stock worth $1,682,000 after acquiring an additional 12,584 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors.

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.