Celestica (NYSE:CLS) Shares Gap Down - What's Next?

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS gapped down prior to trading on Monday . The stock had previously closed at $82.69, but opened at $76.13. Celestica shares last traded at $78.02, with a volume of 1,275,159 shares trading hands.

Analyst Upgrades and Downgrades

CLS has been the subject of a number of analyst reports. TD Securities lifted their price target on Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Stifel Nicolaus lifted their target price on Celestica from $140.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. assumed coverage on Celestica in a report on Friday, February 21st. They set an "overweight" rating and a $166.00 price target for the company. Royal Bank of Canada raised their price objective on Celestica from $115.00 to $140.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Finally, Canaccord Genuity Group upped their target price on shares of Celestica from $77.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Two investment 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $110.83.

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Celestica Stock Down 16.2 %

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's 50-day moving average price is $104.73 and its two-hundred day moving average price is $88.66. The stock has a market capitalization of $8.00 billion, a PE ratio of 18.45 and a beta of 2.21.

Insider Activity at Celestica

In other Celestica news, CEO Robert Mionis sold 75,000 shares of the company's stock in a transaction that occurred on 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 $64,487,157.93. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael Wilson sold 25,000 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the sale, the director now owns 1,784 shares of the company's stock, valued at approximately $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 959,381 shares of company stock valued at $119,142,019. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CLS. Versant Capital Management Inc bought a new stake in shares of Celestica during the first quarter valued at approximately $84,000. Wellington Management Group LLP purchased a new position in Celestica during the 4th quarter worth $26,965,000. Wealth Enhancement Advisory Services LLC purchased a new position in Celestica during the 4th quarter worth $405,000. Park Square Financial Group LLC bought a new stake in Celestica during the 4th quarter valued at $345,000. Finally, Mackenzie Financial Corp lifted its holdings in shares of Celestica by 39.3% in the 4th quarter. Mackenzie Financial Corp now owns 761,084 shares of the technology company's stock worth $70,164,000 after buying an additional 214,872 shares during the period. 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.