Celestica (NYSE:CLS) Trading Down 14.9% - What's Next?

Shares of Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS fell 14.9% during mid-day trading on Thursday . The company traded as low as $69.89 and last traded at $70.07. 2,544,652 shares traded hands during mid-day trading, a decline of 12% from the average session volume of 2,899,726 shares. The stock had previously closed at $82.35.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays raised their price objective on Celestica from $139.00 to $157.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. CIBC upgraded Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price target for the company in a report on Friday, January 31st. Canaccord Genuity Group raised their price objective on Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Stifel Nicolaus increased their price objective on shares of Celestica from $140.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Celestica in a report on Friday, February 21st. They set an "overweight" rating and a $166.00 price objective for the company. Two 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $110.83.

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Celestica Stock Performance

The stock's 50-day moving average is $103.28 and its 200-day moving average is $89.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 18.75 and a beta of 2.09.

Insider Transactions at Celestica

In related 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 of the company's stock, valued at approximately $64,487,157.93. This represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Todd C. Cooper sold 65,000 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the sale, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 934,381 shares of company stock valued at $116,673,769. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Celestica

A number of institutional investors have recently bought and sold shares of CLS. Cornerstone Wealth Management LLC acquired a new position in Celestica during the fourth quarter worth $385,000. Raymond James Financial Inc. bought a new stake in shares of Celestica during the fourth quarter valued at approximately $47,685,000. Schechter Investment Advisors LLC bought a new stake in Celestica in the 4th quarter valued at $294,000. XTX Topco Ltd acquired a new position in Celestica in the third quarter worth about $1,580,000. Finally, American Century Companies Inc. lifted its position in shares of Celestica by 16.4% during the 4th quarter. American Century Companies Inc. now owns 219,062 shares of the technology company's stock worth $20,217,000 after buying an additional 30,851 shares during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.