Celestica (NYSE:CLS) Stock Price Down 14.9% – What’s Next?

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) were down 14.9% on Thursday . The stock traded as low as $69.89 and last traded at $70.07. Approximately 2,544,652 shares changed hands during mid-day trading, a decline of 12% from the average daily volume of 2,899,726 shares. The stock had previously closed at $82.35.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Royal Bank of Canada lifted their price objective on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Stifel Nicolaus boosted their price target on shares of Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. TD Securities increased their price objective on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price for the company in a research note on Friday, January 31st. Finally, Canaccord Genuity Group upped their price target 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. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Trading Down 4.4 %

The business has a 50 day moving average of $103.62 and a two-hundred day moving average of $88.80. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 17.68 and a beta of 2.09. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Insider Transactions at Celestica

In other news, CEO Robert Mionis sold 441,325 shares of Celestica stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 531,417 shares in the company, valued at $64,981,670.76. This trade represents a 45.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Wilson sold 25,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 959,381 shares of company stock valued at $119,142,019 over the last ninety days. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Celestica

Several institutional investors have recently bought and sold shares of CLS. FMR LLC boosted its stake in shares of Celestica by 91.2% in the 4th quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock worth $1,078,804,000 after buying an additional 5,574,342 shares during the last quarter. Whale Rock Capital Management LLC boosted its position in Celestica by 13.0% in the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after purchasing an additional 975,163 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Celestica by 64.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock valued at $329,460,000 after purchasing an additional 1,401,877 shares during the period. FIL Ltd grew its stake in Celestica by 5,976.1% in the 4th quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock valued at $319,662,000 after purchasing an additional 3,406,723 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Celestica by 20.2% during the 4th quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company’s stock worth $271,622,000 after purchasing an additional 494,542 shares during the period. 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.