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

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

Analyst Ratings Changes

A number of research analysts recently commented on the company. Royal Bank of Canada increased 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. JPMorgan Chase & Co. assumed coverage on shares of Celestica in a research note on Friday, February 21st. They issued an "overweight" rating and a $166.00 price target for the company. Stifel Nicolaus increased their price objective on shares of Celestica from $140.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Cibc World Mkts raised shares of Celestica from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Finally, Barclays increased their price target on shares of Celestica from $139.00 to $157.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Celestica has a consensus rating of "Moderate Buy" and an average target price of $110.83.

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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 firm has a market capitalization of $9.17 billion, a P/E ratio of 21.35 and a beta of 2.09. The business has a fifty day moving average of $102.12 and a 200-day moving average of $89.52.

Insider Activity at Celestica

In related news, President Todd C. Cooper sold 65,000 shares of Celestica stock in a transaction on Friday, February 7th. The stock was sold at an average price of $129.78, for a total value of $8,435,700.00. Following the transaction, the president now directly owns 110,426 shares in the company, valued at $14,331,086.28. The trade was a 37.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Yann L. Etienvre sold 83,179 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $122.28, for a total value of $10,171,128.12. Following the sale, the insider now directly owns 9,224 shares in the company, valued at $1,127,910.72. This trade represents a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 934,381 shares of company stock worth $116,673,769 in the last 90 days. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Celestica

Several hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its position in shares of Celestica by 10.5% in the third quarter. Janus Henderson Group PLC now owns 37,467 shares of the technology company's stock worth $1,919,000 after purchasing an additional 3,545 shares in the last quarter. Stifel Financial Corp lifted its position in Celestica by 2,107.2% in the 3rd quarter. Stifel Financial Corp now owns 107,379 shares of the technology company's stock worth $5,489,000 after buying an additional 102,514 shares in the last quarter. State Street Corp purchased a new stake in Celestica in the 3rd quarter worth approximately $452,000. MML Investors Services LLC boosted its stake in shares of Celestica by 274.0% during the 3rd quarter. MML Investors Services LLC now owns 27,328 shares of the technology company's stock valued at $1,397,000 after buying an additional 20,022 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Celestica during the 3rd quarter valued at $214,000. 67.38% of the stock is owned by hedge funds and other 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.