Celestica (NYSE:CLS) Shares Down 0.5% – Should You Sell?

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) dropped 0.5% during mid-day trading on Wednesday . The company traded as low as $87.97 and last traded at $89.80. Approximately 1,099,150 shares were traded during trading, a decline of 78% from the average daily volume of 4,964,271 shares. The stock had previously closed at $90.22.

Analyst Upgrades and Downgrades

CLS has been the topic of a number of recent analyst reports. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Canaccord Genuity Group increased their price target on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. Barclays boosted their price objective on Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. UBS Group started coverage on Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target on the stock. Finally, TD Securities upped their price objective on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Two 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $110.83.

Celestica Trading Up 7.2 %

The business’s 50-day simple moving average is $111.39 and its two-hundred day simple moving average is $83.28. The firm has a market capitalization of $10.18 billion, a price-to-earnings ratio of 23.39 and a beta of 2.21. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Insider Activity at Celestica

In other news, President Todd C. Cooper sold 65,000 shares of the firm’s stock in a transaction on 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 transaction, the president now directly owns 110,426 shares in the company, valued at $14,331,086.28. This trade represents a 37.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert Mionis sold 52,588 shares of Celestica stock in a transaction on Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $6,707,073.52. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 959,381 shares of company stock worth $119,142,019. Insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

Hedge funds have recently made changes to their positions in the business. FMR LLC grew its holdings in shares of 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 purchasing an additional 5,574,342 shares in the last quarter. Whale Rock Capital Management LLC grew its stake in shares of 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 acquiring an additional 975,163 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Celestica by 64.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock worth $329,460,000 after acquiring an additional 1,401,877 shares during the period. FIL Ltd raised its stake in shares of Celestica by 5,976.1% in the fourth quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock valued at $319,662,000 after acquiring an additional 3,406,723 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Celestica by 20.2% in the fourth quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company’s stock valued at $271,622,000 after purchasing an additional 494,542 shares during the period. Institutional investors and hedge funds 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.