Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS's stock price traded down 3.2% during mid-day trading on Tuesday . The company traded as low as $94.56 and last traded at $96.77. 1,605,685 shares were traded during mid-day trading, a decline of 41% from the average session volume of 2,739,995 shares. The stock had previously closed at $99.98.
Wall Street Analyst Weigh In
CLS has been the topic of a number of recent research reports. Stifel Nicolaus raised their price objective on Celestica from $140.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Canaccord Genuity Group lifted their price objective on shares of Celestica from $77.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Cibc World Mkts raised shares of Celestica from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Royal Bank of Canada boosted their target price on Celestica from $115.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. began coverage on Celestica in a research note on Friday, February 21st. They issued an "overweight" rating and a $166.00 price target for the company. 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $110.83.
Read Our Latest Research Report on Celestica
Celestica Trading Down 2.2 %
The company's 50-day moving average is $108.09 and its 200 day moving average is $88.07. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 22.07 and a beta of 2.21. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.
Insider Activity at Celestica
In related news, insider Alok K. Agrawal sold 6,826 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total value of $914,137.92. Following the completion of the sale, the insider now owns 9,224 shares of the company's stock, valued at approximately $1,235,278.08. The trade was a 42.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Wilson sold 25,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the transaction, the director now directly owns 1,784 shares in the company, valued at approximately $176,134.32. The trade was a 93.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 959,381 shares of company stock worth $119,142,019 in the last 90 days. Corporate insiders own 1.00% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the stock. Cornerstone Wealth Management LLC purchased a new stake in Celestica during the 4th quarter worth approximately $385,000. Raymond James Financial Inc. acquired a new position in Celestica in the 4th quarter valued at $47,685,000. Schechter Investment Advisors LLC purchased a new position in Celestica in the 4th quarter valued at $294,000. XTX Topco Ltd purchased a new position in Celestica in the 3rd quarter valued at $1,580,000. Finally, Fruth Investment Management acquired a new stake in Celestica during the 4th quarter worth $286,000. Institutional investors and hedge funds own 67.38% of the company's stock.
About Celestica
(
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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.
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