Celestica (NYSE:CLS) Stock Price Down 7.9% - Time to Sell?

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS's stock price fell 7.9% during mid-day trading on Monday . The stock traded as low as $98.70 and last traded at $98.59. 2,517,957 shares traded hands during trading, a decline of 48% from the average session volume of 4,853,018 shares. The stock had previously closed at $107.05.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CLS. Stifel Nicolaus boosted their price objective on shares of Celestica from $140.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Cibc World Mkts upgraded shares of Celestica from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. TD Securities boosted their price objective on shares of Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Barclays boosted their price objective on shares of Celestica from $139.00 to $157.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada boosted their price objective on shares of Celestica from $115.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Two 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $110.83.

Celestica Stock Performance

The firm has a market cap of $9.49 billion, a P/E ratio of 21.80 and a beta of 2.21. The stock's 50 day moving average is $111.72 and its two-hundred day moving average is $83.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

Insiders Place Their Bets

In other Celestica news, CEO Robert Mionis sold 52,588 shares of the company'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 $6,707,073.52. Following the sale, the chief executive officer now directly owns 531,417 shares of the company's stock, valued at approximately $67,776,924.18. This represents a 9.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alok K. Agrawal sold 6,826 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total transaction of $914,137.92. Following the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Celestica

Several large investors have recently added to or reduced their stakes in CLS. Peregrine Capital Management LLC bought a new stake in Celestica during the fourth quarter worth about $30,000. Pinpoint Asset Management Ltd grew its stake in Celestica by 109.6% during the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock worth $32,000 after buying an additional 182 shares during the last quarter. Bessemer Group Inc. acquired a new position in shares of Celestica during the fourth quarter worth approximately $42,000. Private Trust Co. NA lifted its position in shares of Celestica by 480.0% during the third quarter. Private Trust Co. NA now owns 870 shares of the technology company's stock worth $44,000 after purchasing an additional 720 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of Celestica during the fourth quarter worth approximately $51,000. 67.38% of the stock is owned by 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.