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

Celestica Inc. (NYSE:CLS) (TSE:CLS) gapped down before the market opened on Monday . 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.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Stifel Nicolaus raised their price objective on Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. CIBC raised Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective for the company in a research note on Friday. Royal Bank of Canada raised their price objective on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday. BMO Capital Markets raised their price objective on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, UBS Group assumed 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. 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $99.64.

Celestica Trading Down 0.7 %

The firm has a fifty day moving average price of $98.48 and a 200-day moving average price of $72.36. The company has a market capitalization of $14.27 billion, a P/E ratio of 32.82 and a beta of 2.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

Insider Activity

In related news, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the sale, the director now owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. The trade was a 93.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

Several institutional investors and hedge funds have recently bought and sold shares of CLS. Optimum Investment Advisors lifted its position in shares of Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in Celestica in the 3rd quarter valued at about $30,000. Peregrine Capital Management LLC bought a new stake in Celestica in the 4th quarter valued at about $30,000. UMB Bank n.a. bought a new stake in Celestica in the 3rd quarter valued at about $34,000. Finally, Private Trust Co. NA raised its stake in Celestica by 480.0% in the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after acquiring an additional 720 shares during the period. 67.38% of the stock is 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.