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.

Specifically, President Todd C. Cooper sold 65,000 shares of Celestica stock in a transaction dated 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 sale, the president now owns 110,426 shares of the company's stock, valued at $14,331,086.28. The trade was 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 accessible through this hyperlink. Also, CEO Robert Mionis sold 75,000 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total transaction of $10,596,750.00. Following the sale, the chief executive officer now directly owns 456,417 shares in the company, valued at approximately $64,487,157.93. This represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. In other news, CEO Robert Mionis sold 441,325 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were 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 directly owns 531,417 shares in the company, valued at $64,981,670.76. This represents a 45.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

CLS has been the subject of several recent analyst reports. Canaccord Genuity Group lifted 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. TD Cowen boosted their price objective on Celestica from $68.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, October 24th. CIBC upgraded Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price objective for the company in a research report on Friday, January 31st. Royal Bank of Canada raised their price target on Celestica from $115.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Finally, UBS Group started coverage on shares of Celestica in a research report on Friday, November 22nd. They set a "neutral" rating and a $95.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $104.91.

Celestica Stock Performance

The firm has a market cap of $15.11 billion, a price-to-earnings ratio of 34.71 and a beta of 2.27. The stock has a 50-day moving average of $105.64 and a 200-day moving average of $76.47. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Institutional Investors Weigh In On Celestica

A number of hedge funds and other institutional investors have recently modified their holdings of CLS. Canada Pension Plan Investment Board acquired a new stake in shares of Celestica during the 4th quarter valued at $7,374,000. NewEdge Advisors LLC raised its holdings in Celestica by 5.5% during the 4th quarter. NewEdge Advisors LLC now owns 5,400 shares of the technology company's stock worth $498,000 after purchasing an additional 281 shares during the last quarter. EAM Global Investors LLC acquired a new position in shares of Celestica in the 4th quarter worth approximately $8,387,000. EAM Investors LLC bought a new stake in shares of Celestica in the 4th quarter valued at $1,455,000. Finally, Stonehaven Wealth & Tax Solutions LLC bought a new stake in shares of Celestica in the 4th quarter valued at $214,000. Institutional investors and hedge funds 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.