Celestica (NYSE:CLS) Trading Down 6% - Should You Sell?

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS's share price traded down 6% during trading on Thursday . The company traded as low as $122.08 and last traded at $123.72. 1,602,470 shares traded hands during trading, a decline of 66% from the average session volume of 4,720,643 shares. The stock had previously closed at $131.58.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. CIBC upgraded Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price objective on the stock in a research note on Friday, January 31st. Barclays raised 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. TD Securities raised their price objective on Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. BMO Capital Markets raised their target price on Celestica from $64.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Finally, Cibc World Mkts raised Celestica from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $110.83.

Celestica Stock Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The company has a market cap of $13.89 billion, a price-to-earnings ratio of 31.93 and a beta of 2.27. The company has a fifty day moving average of $110.78 and a two-hundred day moving average of $80.16.

Insider Activity at Celestica

In related news, insider Alok K. Agrawal sold 6,826 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was 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. This trade represents a 42.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert Mionis sold 441,325 shares of the firm's stock in a transaction on 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 sale, the chief executive officer now directly owns 531,417 shares in the company, valued at approximately $64,981,670.76. This trade represents a 45.37 % decrease in their position. 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 90 days. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Management Professionals Inc. acquired a new position in Celestica during the 3rd quarter worth about $30,000. Peregrine Capital Management LLC acquired a new position in Celestica during the 4th quarter worth about $30,000. Pinpoint Asset Management Ltd lifted its holdings in 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 during the period. Bessemer Group Inc. acquired a new position in Celestica during the 4th quarter worth about $42,000. Finally, Private Trust Co. NA lifted its holdings in Celestica by 480.0% during the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company's stock worth $44,000 after buying an additional 720 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

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.