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

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s stock price was down 0.9% during trading on Monday following insider selling activity. The company traded as low as $124.02 and last traded at $128.59. Approximately 1,617,778 shares traded hands during trading, a decline of 68% from the average daily 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 business’s stock in a transaction dated 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 completion of the sale, the president now owns 110,426 shares of the company’s stock, valued at approximately $14,331,086.28. The trade was 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 accessible through this hyperlink. Also, CEO Robert Mionis sold 75,000 shares of Celestica stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total value of $10,596,750.00. Following the completion of the transaction, the chief executive officer now directly owns 456,417 shares in the company, valued at $64,487,157.93. This represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Celestica news, CEO Robert Mionis sold 441,325 shares of Celestica stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 531,417 shares of the company’s stock, 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 accessible through this hyperlink.

Wall Street Analysts Forecast Growth

Several research firms have commented on CLS. TD Securities raised their price objective on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Barclays lifted their price objective on shares of Celestica from $91.00 to $139.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Stifel Nicolaus began coverage on shares of Celestica in a research note on Tuesday, February 4th. They issued a “buy” rating and a $140.00 target price for the company. Royal Bank of Canada lifted their price target on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, BMO Capital Markets raised their target price on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $103.27.

Celestica Stock Up 2.3 %

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 stock’s fifty day simple moving average is $104.85 and its two-hundred day simple moving average is $76.10. The company has a market capitalization of $15.07 billion, a price-to-earnings ratio of 34.63 and a beta of 2.27.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Peregrine Capital Management LLC acquired a new stake in shares of Celestica in the fourth quarter valued at approximately $30,000. Optimum Investment Advisors lifted its position in shares of Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. R Squared Ltd bought a new stake in shares of Celestica during the 4th quarter worth $51,000. Financial Management Professionals Inc. acquired a new position in shares of Celestica in the 3rd quarter worth $30,000. Finally, UMB Bank n.a. acquired a new stake in shares of Celestica during the third quarter worth $34,000. 67.38% of the stock is currently owned by institutional investors.

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.