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

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares were down 14.9% during trading on Thursday . The company traded as low as $69.89 and last traded at $70.07. Approximately 2,544,652 shares were traded 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.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CLS shares. JPMorgan Chase & Co. started coverage on Celestica in a research report on Friday, February 21st. They set an “overweight” rating and a $166.00 price objective for the company. CIBC raised Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target for the company in a research report on Friday, January 31st. Barclays increased their price objective on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Stifel Nicolaus lifted their target price on shares of Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, TD Securities increased their price target 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 research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.83.

Celestica Stock Performance

The business’s 50 day simple moving average is $105.80 and its two-hundred day simple moving average is $88.80. The firm has a market capitalization of $8.00 billion, a PE ratio of 18.45 and a beta of 2.21. 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, CEO Robert Mionis sold 441,325 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the completion of the sale, the chief executive officer now directly owns 531,417 shares in the company, valued at $64,981,670.76. The trade was a 45.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alok K. Agrawal sold 6,826 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total transaction of $914,137.92. Following the completion of the transaction, the insider now owns 9,224 shares in the company, valued at $1,235,278.08. This trade represents a 42.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 959,381 shares of company stock worth $119,142,019. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Independent Advisor Alliance raised its stake in Celestica by 0.3% during the 4th quarter. Independent Advisor Alliance now owns 29,588 shares of the technology company’s stock worth $2,731,000 after acquiring an additional 79 shares during the period. Jones Financial Companies Lllp raised its position in shares of Celestica by 4.6% during the 4th quarter. Jones Financial Companies Lllp now owns 2,034 shares of the technology company’s stock valued at $188,000 after purchasing an additional 89 shares during the period. CoreCap Advisors LLC raised its position in shares of Celestica by 5.4% during the 4th quarter. CoreCap Advisors LLC now owns 1,760 shares of the technology company’s stock valued at $162,000 after purchasing an additional 90 shares during the period. Pinpoint Asset Management Ltd lifted its stake in shares of Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock valued at $32,000 after buying an additional 182 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in Celestica by 5.5% in the 4th quarter. NewEdge Advisors LLC now owns 5,400 shares of the technology company’s stock worth $498,000 after buying an additional 281 shares during the period. 67.38% of the stock is owned by hedge funds and other 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.