Celestica (NYSE:CLS) Shares Gap Down Following Insider Selling

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS's share price gapped down prior to trading on Monday following insider selling activity. The stock had previously closed at $123.47, but opened at $110.80. Celestica shares last traded at $122.68, with a volume of 3,335,296 shares trading hands.

Specifically, CEO Robert Mionis sold 52,588 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $6,707,073.52. Following the completion of the sale, the chief executive officer now directly owns 531,417 shares in the company, valued at $67,776,924.18. This trade represents a 9.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mandeep Chawla sold 9,483 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,209,461.82. Following the completion of the sale, the chief financial officer now owns 90,771 shares in the company, valued at approximately $11,576,933.34. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Celestica news, President Todd C. Cooper sold 9,538 shares of the business's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $1,216,476.52. Following the completion of the sale, the president now directly owns 175,426 shares of the company's stock, valued at $22,373,832.04. The trade was a 5.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. TD Cowen boosted their price target on shares of Celestica from $68.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Canaccord Genuity Group upped their target price on Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Royal Bank of Canada increased their price objective on shares of Celestica from $115.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Cibc World Mkts raised Celestica from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Finally, UBS Group started coverage on Celestica in a research report on Friday, November 22nd. They set a "neutral" rating and a $95.00 target price on the stock. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $103.27.

Celestica Price Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The stock's 50-day moving average is $103.20 and its two-hundred day moving average is $74.75. The stock has a market cap of $15.10 billion, a PE ratio of 34.69 and a beta of 2.27.

Institutional Trading of Celestica

Several hedge funds have recently made changes to their positions in CLS. Whale Rock Capital Management LLC boosted its holdings in Celestica by 13.0% in the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company's stock valued at $432,846,000 after purchasing an additional 975,163 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in Celestica during the 3rd quarter worth about $61,210,000. Point72 Asset Management L.P. lifted its stake in shares of Celestica by 38.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company's stock valued at $55,451,000 after purchasing an additional 301,563 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Celestica by 25.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 536,249 shares of the technology company's stock valued at $27,413,000 after buying an additional 109,972 shares during the period. Finally, Broad Peak Investment Advisers Pte Ltd raised its stake in shares of Celestica by 53.8% in the 3rd quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company's stock valued at $26,799,000 after purchasing an additional 183,300 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company's stock.

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.