Celestica (NYSE:CLS) Stock Price Down 2.5% - Should You Sell?

Shares of Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS traded down 2.5% during trading on Thursday . The stock traded as low as $81.98 and last traded at $85.50. 1,511,815 shares were traded during mid-day trading, a decline of 68% from the average session volume of 4,794,852 shares. The stock had previously closed at $87.66.

Analyst Ratings Changes

A number of research analysts have recently commented on CLS shares. Canaccord Genuity Group upped their price target on shares of Celestica from $77.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, December 20th. Stifel Nicolaus lifted their price target 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. Royal Bank of Canada lifted their price target on Celestica from $115.00 to $140.00 and gave the stock 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 set an "overweight" rating and a $166.00 target price for the company. Finally, CIBC upgraded shares of Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 target price on the stock in a report on Friday, January 31st. Two equities research 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 MarketBeat.com, Celestica presently has a consensus rating of "Moderate Buy" and a consensus price target 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 stock has a market cap of $9.57 billion, a PE ratio of 22.07 and a beta of 2.21. The stock has a 50 day moving average of $108.09 and a two-hundred day moving average of $88.07.

Insiders Place Their Bets

In other 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 transaction of $8,435,700.00. Following the completion of the sale, the president now owns 110,426 shares of the company's stock, valued at approximately $14,331,086.28. This trade represents a 37.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Mionis sold 75,000 shares of the firm'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 completion of the transaction, the chief executive officer now owns 456,417 shares in the company, valued at $64,487,157.93. The trade was a 14.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 959,381 shares of company stock worth $119,142,019. Corporate insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Peregrine Capital Management LLC bought a new position in Celestica during the fourth quarter worth $30,000. Pinpoint Asset Management Ltd boosted its position in Celestica by 109.6% in the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock worth $32,000 after purchasing an additional 182 shares during the last quarter. Bessemer Group Inc. bought a new stake in shares of Celestica during the 4th quarter worth $42,000. Private Trust Co. NA grew its position in Celestica by 480.0% during the third quarter. Private Trust Co. NA now owns 870 shares of the technology company's stock valued at $44,000 after buying an additional 720 shares during the period. Finally, R Squared Ltd bought a new stake in Celestica in the fourth quarter worth about $51,000. Institutional investors and hedge funds own 67.38% of the company's stock.

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.