Celestica (NYSE:CLS) Shares Down 0.3% – Here’s Why

Celestica Inc. (NYSE:CLS) (TSE:CLS) was down 0.3% during mid-day trading on Monday . The company traded as low as $89.00 and last traded at $91.31. Approximately 941,455 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 4,983,275 shares. The stock had previously closed at $91.58.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CLS shares. UBS Group started coverage on Celestica in a research report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price for the company. Royal Bank of Canada increased their price objective on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. assumed coverage on Celestica in a research note on Friday, February 21st. They set an “overweight” rating and a $166.00 target price for the company. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Finally, Stifel Nicolaus increased their target price on Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Celestica currently has an average rating of “Moderate Buy” and an average target price of $110.83.

Celestica Stock Down 4.6 %

The stock has a market capitalization of $10.18 billion, a PE ratio of 23.40 and a beta of 2.21. The firm has a 50 day moving average of $110.24 and a two-hundred day moving average of $85.74. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Insider Activity at Celestica

In other Celestica news, President Todd C. Cooper sold 9,538 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $1,216,476.52. Following the completion of the transaction, the president now owns 175,426 shares of the company’s stock, valued at approximately $22,373,832.04. This trade represents a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert Mionis sold 52,588 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $6,707,073.52. Following the transaction, the chief executive officer now directly owns 531,417 shares of the company’s stock, valued at $67,776,924.18. The trade was a 9.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock valued at $119,142,019 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Several hedge funds have recently made changes to their positions in the business. Independent Advisor Alliance boosted its holdings in shares of Celestica by 0.3% during the fourth quarter. Independent Advisor Alliance now owns 29,588 shares of the technology company’s stock worth $2,731,000 after purchasing an additional 79 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Celestica by 4.6% during the fourth quarter. Jones Financial Companies Lllp now owns 2,034 shares of the technology company’s stock worth $188,000 after purchasing an additional 89 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in shares of Celestica by 5.4% during the fourth quarter. CoreCap Advisors LLC now owns 1,760 shares of the technology company’s stock worth $162,000 after purchasing an additional 90 shares during the last quarter. Pinpoint Asset Management Ltd boosted its holdings in shares of Celestica by 109.6% during the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock worth $32,000 after purchasing an additional 182 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Celestica by 5.5% during the fourth quarter. NewEdge Advisors LLC now owns 5,400 shares of the technology company’s stock worth $498,000 after purchasing an additional 281 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.