Celestica (NYSE:CLS) Shares Gap Down – Here’s What Happened

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares gapped down before the market opened on Monday . The stock had previously closed at $87.53, but opened at $82.75. Celestica shares last traded at $80.77, with a volume of 1,598,995 shares changing hands.

Analyst Ratings Changes

CLS has been the topic of several research analyst reports. Barclays upped their price objective on shares of Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target on the stock in a report on Friday, January 31st. Stifel Nicolaus raised their price objective on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Canaccord Genuity Group increased their target price on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Price Performance

The firm’s fifty day moving average price is $110.98 and its 200-day moving average price is $84.13. 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 cap of $10.09 billion, a P/E ratio of 23.19 and a beta of 2.21.

Insider Buying and Selling at Celestica

In other news, President Todd C. Cooper sold 65,000 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert Mionis sold 75,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total value of $10,596,750.00. Following the completion of the sale, the chief executive officer now directly owns 456,417 shares of the company’s stock, valued at $64,487,157.93. The trade was a 14.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock valued at $119,142,019 in the last 90 days. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Park Square Financial Group LLC purchased a new stake in Celestica in the fourth quarter worth about $345,000. Mackenzie Financial Corp lifted its stake in shares of Celestica by 39.3% in the 4th quarter. Mackenzie Financial Corp now owns 761,084 shares of the technology company’s stock valued at $70,164,000 after purchasing an additional 214,872 shares during the period. Invst LLC boosted its position in shares of Celestica by 11.7% during the fourth quarter. Invst LLC now owns 11,243 shares of the technology company’s stock valued at $1,038,000 after purchasing an additional 1,174 shares in the last quarter. Vise Technologies Inc. grew its stake in Celestica by 100.9% in the fourth quarter. Vise Technologies Inc. now owns 44,564 shares of the technology company’s stock worth $4,113,000 after purchasing an additional 22,387 shares during the period. Finally, Castleark Management LLC bought a new position in Celestica in the fourth quarter worth $9,378,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.