Celestica (NYSE:CLS) Stock Price Down 0.4% on Insider Selling

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares dropped 0.4% during mid-day trading on Friday following insider selling activity. The stock traded as low as $132.08 and last traded at $132.63. Approximately 2,349,099 shares changed hands during trading, a decline of 54% from the average daily volume of 5,153,824 shares. The stock had previously closed at $133.22.

Specifically, CEO Robert Mionis sold 75,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 456,417 shares of the company’s stock, valued at $64,487,157.93. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 sale, the chief executive officer now 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 disclosure for this sale can be found here. In other Celestica news, insider Alok K. Agrawal sold 6,826 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total value of $914,137.92. Following the transaction, the insider now directly owns 9,224 shares in the company, valued at $1,235,278.08. This represents a 42.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analysts Set New Price Targets

A number of brokerages have issued reports on CLS. TD Securities raised their price target on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. TD Cowen boosted their price target on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. UBS Group assumed coverage on Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price objective on the stock. BMO Capital Markets lifted their price objective on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.27.

Celestica Stock Performance

The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average of $102.31 and a 200-day moving average of $74.25. The firm has a market capitalization of $15.10 billion, a P/E ratio of 34.69 and a beta of 2.27.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Optimum Investment Advisors boosted its holdings in Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in Celestica during the 3rd quarter valued at about $30,000. Peregrine Capital Management LLC bought a new stake in Celestica during the 4th quarter valued at about $30,000. UMB Bank n.a. bought a new stake in Celestica during the 3rd quarter valued at about $34,000. Finally, Private Trust Co. NA lifted its holdings in Celestica by 480.0% during the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after buying an additional 720 shares in the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

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.