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

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CLS shares. Cibc World Mkts upgraded shares of Celestica from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. JPMorgan Chase & Co. started coverage on shares of Celestica in a report on Friday, February 21st. They set an "overweight" rating and a $166.00 price target on the stock. TD Securities lifted their price target on shares of Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. CIBC upgraded shares of Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 target price on the stock in a report on Friday, January 31st. Finally, Canaccord Genuity Group boosted their target price on shares of Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $110.83.

Celestica Trading Up 7.2 %

The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $10.18 billion, a P/E ratio of 23.39 and a beta of 2.21. The firm's 50 day simple moving average is $111.23 and its two-hundred day simple moving average is $83.51.

Insider Transactions at Celestica

In other news, Director Michael Wilson sold 25,000 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the completion of the sale, the director now directly owns 1,784 shares of the company's stock, valued at $176,134.32. The trade was a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Todd C. Cooper sold 65,000 shares of the business's stock in a transaction dated 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 sale, the president now directly owns 110,426 shares of the company's stock, valued at approximately $14,331,086.28. The trade was a 37.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 959,381 shares of company stock valued at $119,142,019 over the last three months. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Celestica

Several hedge funds and other institutional investors have recently made changes to their positions in CLS. Van ECK Associates Corp increased its position in shares of Celestica by 40.0% during the third quarter. Van ECK Associates Corp now owns 67,266 shares of the technology company's stock worth $3,439,000 after acquiring an additional 19,221 shares in the last quarter. Covestor Ltd bought a new stake in Celestica in the 3rd quarter worth about $204,000. Sigma Planning Corp bought a new stake in Celestica in the 3rd quarter worth about $420,000. Nations Financial Group Inc. IA ADV grew its position in Celestica by 20.5% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 15,455 shares of the technology company's stock worth $790,000 after purchasing an additional 2,625 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in Celestica in the 3rd quarter worth about $2,234,000. 67.38% of the stock is owned by 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.