Celestica (NYSE:CLS) Stock Price Down 6.2% – What’s Next?

Celestica Inc. (NYSE:CLS) (TSE:CLS) traded down 6.2% on Monday . The company traded as low as $108.88 and last traded at $111.83. 2,917,010 shares changed hands during trading, a decline of 38% from the average session volume of 4,734,624 shares. The stock had previously closed at $119.25.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CLS. CIBC upgraded shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective on the stock in a report on Friday, January 31st. Stifel Nicolaus boosted their target price on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. UBS Group assumed coverage on Celestica in a research report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target 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, Royal Bank of Canada raised their price target on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.83.

Celestica Stock Performance

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 company has a market cap of $13.05 billion, a PE ratio of 29.95 and a beta of 2.27. The stock has a 50 day simple moving average of $110.78 and a two-hundred day simple moving average of $80.65.

Insider Buying and Selling at Celestica

In other news, President Todd C. Cooper sold 9,538 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,216,476.52. Following the transaction, the president now directly owns 175,426 shares in the company, valued at $22,373,832.04. The trade was a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert Mionis sold 75,000 shares of Celestica stock in a transaction that occurred on 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 sale, the chief executive officer now owns 456,417 shares in the company, valued at approximately $64,487,157.93. This trade represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 959,381 shares of company stock worth $119,142,019. 1.00% of the stock is owned by company insiders.

Institutional Trading of Celestica

Several hedge funds and other institutional investors have recently made changes to their positions in CLS. FMR LLC increased its holdings in Celestica by 91.2% in the fourth quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock valued at $1,078,804,000 after buying an additional 5,574,342 shares in the last quarter. Whale Rock Capital Management LLC grew its holdings in shares of Celestica by 13.0% in the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after acquiring an additional 975,163 shares during the period. Arrowstreet Capital Limited Partnership increased 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 in the last quarter. FIL Ltd increased 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 in the last quarter. Finally, Invesco Ltd. raised its holdings in Celestica by 20.2% during the fourth 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 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.