Celestica (NYSE:CLS) Trading Down 4.7% - What's Next?

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS was down 4.7% on Tuesday . The stock traded as low as $86.18 and last traded at $88.45. Approximately 2,973,340 shares traded hands during trading, a decline of 40% from the average daily volume of 4,947,832 shares. The stock had previously closed at $92.80.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CLS shares. JPMorgan Chase & Co. started coverage on Celestica in a report on Friday, February 21st. They set an "overweight" rating and a $166.00 target price on the stock. UBS Group started coverage on Celestica in a report on Friday, November 22nd. They set a "neutral" rating and a $95.00 target price on the stock. Cibc World Mkts upgraded Celestica from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Canaccord Genuity Group lifted their price objective on Celestica from $77.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Finally, Barclays lifted their price objective on Celestica from $139.00 to $157.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $110.83.

Celestica Stock Up 7.2 %

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 stock has a market capitalization of $10.18 billion, a P/E ratio of 23.39 and a beta of 2.21. The firm has a 50 day moving average of $111.39 and a 200-day moving average of $83.28.

Insider Activity at Celestica

In other Celestica news, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the sale, the director now directly owns 1,784 shares of the company's stock, valued at approximately $176,134.32. The trade was a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Todd C. Cooper sold 9,538 shares of Celestica stock in a transaction that occurred on 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 sale, the president now directly owns 175,426 shares in the company, valued at $22,373,832.04. The trade was a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 959,381 shares of company stock worth $119,142,019 over the last three months. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Celestica

A number of institutional investors have recently added to or reduced their stakes in CLS. FMR LLC boosted its holdings in shares of Celestica by 91.2% in the 4th quarter. FMR LLC now owns 11,688,700 shares of the technology company's stock worth $1,078,804,000 after acquiring an additional 5,574,342 shares in the last quarter. Whale Rock Capital Management LLC boosted its holdings in shares of Celestica by 13.0% in the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company's stock worth $432,846,000 after acquiring an additional 975,163 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Celestica by 64.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company's stock worth $329,460,000 after acquiring an additional 1,401,877 shares in the last quarter. FIL Ltd boosted its holdings in shares of Celestica by 5,976.1% in the 4th quarter. FIL Ltd now owns 3,463,729 shares of the technology company's stock worth $319,662,000 after acquiring an additional 3,406,723 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Celestica by 20.2% in the 4th quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company's stock worth $271,622,000 after acquiring an additional 494,542 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

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.