Celestica (NYSE:CLS) Stock Price Down 0.9% After Insider Selling

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS's stock price fell 0.9% on Monday after an insider sold shares in the company. The stock traded as low as $124.02 and last traded at $128.59. 1,617,778 shares changed hands during trading, a decline of 68% from the average session volume of 5,132,396 shares. The stock had previously closed at $129.70.

Specifically, President Todd C. Cooper sold 65,000 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the sale, the president now owns 110,426 shares of the company's stock, valued at $14,331,086.28. This trade represents a 37.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Mionis sold 75,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 456,417 shares in the company, valued at approximately $64,487,157.93. This trade represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CEO Robert Mionis sold 441,325 shares of Celestica stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the completion of the sale, the chief executive officer now directly owns 531,417 shares in the company, valued at $64,981,670.76. The trade was a 45.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Analyst Ratings Changes

CLS has been the topic of a number of analyst reports. Canaccord Genuity Group raised their target price 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. Stifel Nicolaus initiated coverage on Celestica in a report on Tuesday, February 4th. They set a "buy" rating and a $140.00 price objective on the stock. Cibc World Mkts upgraded Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Royal Bank of Canada lifted their price target on Celestica from $115.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Finally, BMO Capital Markets raised their target price on shares of Celestica from $64.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $104.91.

Celestica Stock Performance

The stock's 50 day moving average price is $105.64 and its 200 day moving average price is $76.47. 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 $15.11 billion, a PE ratio of 34.71 and a beta of 2.27.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CLS. FMR LLC lifted its position in Celestica by 91.2% during the 4th quarter. FMR LLC now owns 11,688,700 shares of the technology company's stock worth $1,078,804,000 after acquiring an additional 5,574,342 shares in the last quarter. Whale Rock Capital Management LLC boosted its stake in shares of Celestica by 13.0% in the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company's stock valued at $432,846,000 after purchasing an additional 975,163 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Celestica by 64.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company's stock valued at $329,460,000 after purchasing an additional 1,401,877 shares in the last quarter. FIL Ltd increased its stake in Celestica by 5,976.1% during the 4th quarter. FIL Ltd now owns 3,463,729 shares of the technology company's stock worth $319,662,000 after buying an additional 3,406,723 shares during the period. Finally, Invesco Ltd. lifted its holdings in Celestica by 20.2% in the 4th quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company's stock worth $271,622,000 after buying an additional 494,542 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company's stock.

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.