Celestica (NYSE:CLS) Trading Down 7.3% - What's Next?

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS shares were down 7.3% on Thursday . The stock traded as low as $81.30 and last traded at $84.30. Approximately 2,465,276 shares changed hands during trading, a decline of 50% from the average daily volume of 4,973,195 shares. The stock had previously closed at $90.95.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CLS shares. Stifel Nicolaus raised their target price 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. Cibc World Mkts raised shares of Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. TD Securities increased their price objective on shares of Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Canaccord Genuity Group increased their price objective on shares of Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. began coverage on shares of Celestica in a research report on Friday, February 21st. They set an "overweight" rating and a $166.00 price objective for the company. 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 company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $110.83.

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Celestica Stock Up 7.2 %

The company's fifty day moving average price is $111.23 and its 200-day moving average price is $83.72. The stock has a market cap of $10.18 billion, a P/E ratio of 23.39 and a beta of 2.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Insider Transactions at Celestica

In other news, President Todd C. Cooper sold 65,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alok K. Agrawal sold 6,826 shares of Celestica stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total transaction of $914,137.92. Following the sale, the insider now owns 9,224 shares of the company's stock, valued at $1,235,278.08. The trade was a 42.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 959,381 shares of company stock worth $119,142,019. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Celestica

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Wealth Management LLC bought a new stake in Celestica during the 4th quarter valued at about $385,000. Quantbot Technologies LP increased its position in Celestica by 120.9% during the 3rd quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company's stock valued at $5,299,000 after purchasing an additional 56,732 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in Celestica during the 3rd quarter valued at about $61,210,000. Sigma Planning Corp purchased a new position in Celestica during the 3rd quarter valued at about $420,000. Finally, Advisors Asset Management Inc. increased its position in Celestica by 61.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company's stock valued at $1,682,000 after purchasing an additional 12,584 shares during the period. Institutional investors own 67.38% of the company's stock.

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.