Celestica (NYSE:CLS) Trading Down 9.5% After Insider Selling

Shares of Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS fell 9.5% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $128.25 and last traded at $129.97. 3,873,933 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 5,025,290 shares. The stock had previously closed at $143.67.

Specifically, CEO Robert Mionis sold 75,000 shares of Celestica stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total transaction of $10,596,750.00. Following the sale, the chief executive officer now owns 456,417 shares of the company's stock, valued at approximately $64,487,157.93. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Mionis sold 441,325 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $122.28, for a total value of $53,965,221.00. Following the completion of the transaction, the chief executive officer now directly owns 531,417 shares in the company, valued at approximately $64,981,670.76. This trade represents a 45.37 % decrease in their position. The disclosure for this sale can be found here. In related news, insider Alok K. Agrawal sold 6,826 shares of the firm'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 completion of the sale, the insider now directly owns 9,224 shares of the company's stock, valued at approximately $1,235,278.08. This trade represents a 42.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CLS shares. Cibc World Mkts upgraded shares of Celestica from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. TD Securities lifted their target price on shares of Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. BMO Capital Markets upped their price target on Celestica from $64.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. UBS Group initiated coverage on Celestica in a research note on Friday, November 22nd. They issued a "neutral" rating and a $95.00 price objective for the company. Finally, Royal Bank of Canada increased their target price on Celestica from $115.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Celestica presently has a consensus rating of "Moderate Buy" and an average price target of $103.27.

Celestica Trading Down 2.6 %

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The firm has a market capitalization of $15.10 billion, a price-to-earnings ratio of 34.69 and a beta of 2.27. The business's 50 day moving average price is $103.20 and its 200-day moving average price is $74.75.

Institutional Investors Weigh In On Celestica

Institutional investors have recently made changes to their positions in the stock. PFG Advisors boosted its holdings in Celestica by 4.6% during the fourth quarter. PFG Advisors now owns 10,162 shares of the technology company's stock worth $938,000 after buying an additional 450 shares in the last quarter. Wealth High Governance Capital Ltda purchased a new stake in shares of Celestica during the 4th quarter worth approximately $9,162,000. Moors & Cabot Inc. acquired a new stake in shares of Celestica in the 4th quarter worth approximately $258,000. Prosperity Wealth Management Inc. acquired a new stake in shares of Celestica in the 4th quarter worth approximately $262,000. Finally, Independent Advisor Alliance increased its stake in Celestica by 0.3% in the 4th quarter. Independent Advisor Alliance now owns 29,588 shares of the technology company's stock valued at $2,731,000 after purchasing an additional 79 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.