Celestica (NYSE:CLS) Trading Down 4.7% - What's Next?

Shares of Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS dropped 4.7% on Tuesday . The stock traded as low as $86.18 and last traded at $88.45. Approximately 2,973,340 shares were traded during trading, a decline of 40% from the average daily volume of 4,947,832 shares. The stock had previously closed at $92.80.

Analyst Ratings Changes

CLS has been the subject of several recent analyst reports. Cibc World Mkts raised shares of Celestica from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Barclays raised their price objective on shares of Celestica from $139.00 to $157.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. TD Securities lifted their price target on shares of Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. UBS Group assumed coverage on shares of Celestica in a report on Friday, November 22nd. They issued a "neutral" rating and a $95.00 price target for the company. Finally, JPMorgan Chase & Co. assumed coverage on shares of Celestica in a report on Friday, February 21st. They issued an "overweight" rating and a $166.00 price target for the company. Two research 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's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $110.83.

Celestica Stock Performance

The firm's 50-day moving average price is $111.85 and its two-hundred day moving average price is $83.24. The firm has a market capitalization of $10.58 billion, a PE ratio of 24.30 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 Transactions at Celestica

In related news, insider Alok K. Agrawal sold 6,826 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total transaction of $914,137.92. Following the transaction, the insider now directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert Mionis sold 75,000 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total transaction of $10,596,750.00. Following the transaction, the chief executive officer now directly owns 456,417 shares in the company, valued at $64,487,157.93. The trade was a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 959,381 shares of company stock valued at $119,142,019 over the last ninety days. Corporate insiders own 1.00% of the company's stock.

Institutional Trading of Celestica

Large investors have recently added to or reduced their stakes in the business. Peregrine Capital Management LLC bought a new stake in Celestica in the fourth quarter worth approximately $30,000. Pinpoint Asset Management Ltd lifted its stake in shares of 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 buying an additional 182 shares during the last quarter. Bessemer Group Inc. acquired a new stake in shares of Celestica in the fourth quarter worth $42,000. Private Trust Co. NA lifted its stake in shares of Celestica by 480.0% in the third quarter. Private Trust Co. NA now owns 870 shares of the technology company's stock worth $44,000 after buying an additional 720 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Celestica in the fourth quarter worth $51,000. 67.38% of the stock is owned by institutional investors.

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.