Celestica (NYSE:CLS) Trading Down 7.1% - Here's What Happened

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS's share price was down 7.1% during mid-day trading on Monday . The stock traded as low as $75.59 and last traded at $76.85. Approximately 2,155,210 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 2,868,687 shares. The stock had previously closed at $82.69.

Analyst Ratings Changes

Several brokerages recently commented on CLS. TD Securities boosted their target price on Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Barclays boosted 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. Stifel Nicolaus raised their target price on Celestica from $140.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Canaccord Genuity Group boosted their price target 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. Finally, Cibc World Mkts upgraded shares of Celestica from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $110.83.

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Celestica Trading Down 16.2 %

The company's 50-day moving average is $104.73 and its 200 day moving average is $88.66. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The firm has a market cap of $8.00 billion, a PE ratio of 18.45 and a beta of 2.21.

Insider Buying and Selling at Celestica

In other news, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction on Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the transaction, the director now 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Todd C. Cooper sold 9,538 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,216,476.52. Following the completion of the sale, the president now directly owns 175,426 shares of the company's stock, valued at approximately $22,373,832.04. This represents a 5.16 % 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 in the last three months. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLS. Peregrine Capital Management LLC acquired a new stake in shares of Celestica during the 4th quarter valued at $30,000. Pinpoint Asset Management Ltd raised its holdings in shares of Celestica by 109.6% during the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock worth $32,000 after acquiring an additional 182 shares in the last quarter. Bessemer Group Inc. acquired a new stake in Celestica during the fourth quarter valued at $42,000. R Squared Ltd purchased a new position in Celestica in the fourth quarter valued at about $51,000. Finally, IFP Advisors Inc grew its stake in Celestica by 122.7% in the fourth quarter. IFP Advisors Inc now owns 668 shares of the technology company's stock valued at $62,000 after purchasing an additional 368 shares in the last quarter. 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.