CIBC Asset Management Inc Sells 2,235 Shares of Celestica Inc. (NYSE:CLS)

CIBC Asset Management Inc reduced its holdings in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 143,547 shares of the technology company's stock after selling 2,235 shares during the quarter. CIBC Asset Management Inc owned 0.12% of Celestica worth $13,218,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CLS. Financial Management Professionals Inc. bought a new position in Celestica during the third quarter valued at approximately $30,000. Private Trust Co. NA grew its stake in shares of Celestica by 480.0% during the third quarter. Private Trust Co. NA now owns 870 shares of the technology company's stock valued at $44,000 after buying an additional 720 shares during the last quarter. Global Trust Asset Management LLC bought a new stake in Celestica in the third quarter valued at approximately $51,000. R Squared Ltd purchased a new stake in shares of Celestica during the fourth quarter valued at approximately $51,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Celestica by 26.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company's stock valued at $67,000 after buying an additional 275 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Celestica

In other news, Director Michael Wilson sold 25,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the transaction, the director now owns 1,784 shares in the company, valued at $176,134.32. This represents a 93.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert Mionis sold 75,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 959,381 shares of company stock worth $119,142,019. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. CIBC upgraded shares of Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 target price for the company in a report on Friday, January 31st. TD Securities lifted their target price on shares of Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Royal Bank of Canada lifted their price objective on Celestica from $115.00 to $140.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Stifel Nicolaus lifted their price objective on Celestica from $140.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Canaccord Genuity Group lifted their price target on Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $110.83.

Celestica Stock Performance

Shares of NYSE:CLS traded down $5.61 during midday trading on Friday, reaching $119.41. 4,461,770 shares of the company's stock traded hands, compared to its average volume of 4,805,599. 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 debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica Inc. has a one year low of $38.80 and a one year high of $144.27. The stock has a 50 day moving average of $110.38 and a 200 day moving average of $79.66.

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.