Celestica (NYSE:CLS) Shares Down 2.3% After Insider Selling

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS's stock price dropped 2.3% on Tuesday following insider selling activity. The company traded as low as $125.35 and last traded at $127.21. Approximately 1,054,541 shares traded hands during trading, a decline of 79% from the average daily volume of 5,047,388 shares. The stock had previously closed at $130.23.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. TD Securities boosted 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. Stifel Nicolaus assumed coverage on shares of Celestica in a research report on Tuesday, February 4th. They issued a "buy" rating and a $140.00 price objective on the stock. Cibc World Mkts upgraded shares of Celestica from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. Canaccord Genuity Group boosted 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, Barclays boosted their price objective on shares of Celestica from $139.00 to $157.00 and gave the company an "overweight" rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $104.91.

Celestica Price Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The firm's 50 day moving average is $105.64 and its 200 day moving average is $76.47. The firm has a market cap of $15.38 billion, a P/E ratio of 35.34 and a beta of 2.27.

Institutional Investors Weigh In On Celestica

Several hedge funds have recently bought and sold shares of CLS. Creative Planning boosted its stake in Celestica by 36.1% during the third quarter. Creative Planning now owns 10,240 shares of the technology company's stock worth $523,000 after acquiring an additional 2,714 shares in the last quarter. Optimum Investment Advisors boosted its stake in Celestica by 66.7% during the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company's stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Harbour Capital Advisors LLC bought a new stake in Celestica during the third quarter worth about $275,000. Stratos Wealth Advisors LLC lifted its stake in shares of Celestica by 20.0% in the third quarter. Stratos Wealth Advisors LLC now owns 4,200 shares of the technology company's stock worth $215,000 after buying an additional 700 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Celestica by 97.3% in the third quarter. Blue Trust Inc. now owns 14,433 shares of the technology company's stock worth $738,000 after buying an additional 7,119 shares in the last quarter. Institutional investors 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.