Celestica (NYSE:CLS) Shares Down 6.3% – Should You Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares traded down 6.3% during mid-day trading on Wednesday . The company traded as low as $88.81 and last traded at $91.21. 2,299,104 shares were traded during trading, a decline of 16% from the average session volume of 2,745,480 shares. The stock had previously closed at $97.37.

Analyst Ratings Changes

Several research firms have recently issued reports on CLS. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Canaccord Genuity Group boosted their price objective on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. Barclays increased their target price on shares of Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Stifel Nicolaus boosted their price target on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada upped their price objective on shares of Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Stock Performance

The firm has a market cap of $9.57 billion, a price-to-earnings ratio of 22.07 and a beta of 2.21. The stock has a 50-day moving average of $108.70 and a 200-day moving average of $87.48. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Insider Activity

In other Celestica news, CEO Robert Mionis sold 441,325 shares of Celestica 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 sale, the chief executive officer now directly owns 531,417 shares in the company, valued at approximately $64,981,670.76. The trade was a 45.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Yann L. Etienvre sold 9,181 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $1,170,944.74. Following the sale, the insider now directly owns 83,179 shares in the company, valued at $10,608,649.66. This trade represents a 9.94 % 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 ninety days. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. FMR LLC grew its stake in shares of Celestica by 91.2% in the fourth quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock valued at $1,078,804,000 after buying an additional 5,574,342 shares in the last quarter. Whale Rock Capital Management LLC lifted its stake 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 acquiring an additional 975,163 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position 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 valued at $329,460,000 after acquiring an additional 1,401,877 shares during the period. FIL Ltd grew its position 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 valued at $319,662,000 after acquiring an additional 3,406,723 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Celestica by 20.2% during the 4th quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company’s stock worth $271,622,000 after purchasing an additional 494,542 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors.

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.