Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS's stock price was down 7.1% during 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
CLS has been the subject of a number of recent analyst reports. CIBC upgraded Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price objective for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. started coverage on shares of Celestica in a research report on Friday, February 21st. They set an "overweight" rating and a $166.00 price target for the company. Canaccord Genuity Group upped their price target on shares of Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a report on Friday, December 20th. Barclays increased their price objective on shares of Celestica from $139.00 to $157.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada boosted their target price on shares of Celestica from $115.00 to $140.00 and gave the stock an "outperform" rating in a research 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $110.83.
Read Our Latest Report on CLS
Celestica Price Performance
The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 18.45 and a beta of 2.21. 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 business has a 50-day moving average price of $105.80 and a two-hundred day moving average price of $88.80.
Insider Buying and Selling at Celestica
In other Celestica news, insider Alok K. Agrawal sold 6,826 shares of the firm'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 value of $914,137.92. Following the sale, the insider now owns 9,224 shares in the company, valued at approximately $1,235,278.08. This trade represents a 42.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Todd C. Cooper sold 65,000 shares of Celestica stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $129.78, for a total value of $8,435,700.00. Following the sale, the president now directly owns 110,426 shares in the company, valued at approximately $14,331,086.28. This trade represents a 37.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 959,381 shares of company stock worth $119,142,019. 1.00% of the stock is owned by insiders.
Institutional Trading of Celestica
Several hedge funds have recently added to or reduced their stakes in CLS. Independent Advisor Alliance increased its holdings in shares of Celestica by 0.3% during the fourth quarter. Independent Advisor Alliance now owns 29,588 shares of the technology company's stock valued at $2,731,000 after purchasing an additional 79 shares during the period. Jones Financial Companies Lllp grew its position in Celestica by 4.6% in the 4th quarter. Jones Financial Companies Lllp now owns 2,034 shares of the technology company's stock valued at $188,000 after buying an additional 89 shares in the last quarter. CoreCap Advisors LLC increased its stake in Celestica by 5.4% during the 4th quarter. CoreCap Advisors LLC now owns 1,760 shares of the technology company's stock valued at $162,000 after buying an additional 90 shares during the period. Pinpoint Asset Management Ltd raised its position in shares of Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock worth $32,000 after buying an additional 182 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of Celestica by 5.5% in the 4th quarter. NewEdge Advisors LLC now owns 5,400 shares of the technology company's stock worth $498,000 after acquiring an additional 281 shares during the period. Institutional investors 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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