Insider Selling: Celestica Inc. (NYSE:CLS) President Sells 91,490 Shares of Stock

Celestica Inc. (NYSE:CLS) (TSE:CLS) President Todd C. Cooper sold 91,490 shares of Celestica stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $122.28, for a total transaction of $11,187,397.20. Following the sale, the president now owns 175,426 shares in the company, valued at approximately $21,451,091.28. This represents a 34.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Celestica Trading Up 8.8 %

CLS traded up $11.55 during trading on Wednesday, reaching $143.53. The company had a trading volume of 8,448,756 shares, compared to its average volume of 5,105,531. The firm’s 50-day simple moving average is $100.10 and its 200 day simple moving average is $73.34. The company has a market cap of $16.70 billion, a price-to-earnings ratio of 38.38 and a beta of 2.27. Celestica Inc. has a 12-month low of $35.56 and a 12-month high of $144.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Hedge Funds Weigh In On Celestica

A number of institutional investors have recently bought and sold shares of the stock. Chase Investment Counsel Corp purchased a new position in Celestica during the 4th quarter valued at about $660,000. SVB Wealth LLC purchased a new position in Celestica during the 4th quarter valued at about $478,000. Oppenheimer & Co. Inc. grew its stake in Celestica by 42.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 16,450 shares of the technology company’s stock valued at $1,518,000 after acquiring an additional 4,874 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Celestica by 31.4% during the 4th quarter. Bank of New York Mellon Corp now owns 99,347 shares of the technology company’s stock valued at $9,170,000 after acquiring an additional 23,725 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in Celestica by 122.7% during the 4th quarter. IFP Advisors Inc now owns 668 shares of the technology company’s stock valued at $62,000 after acquiring an additional 368 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CLS shares. Stifel Nicolaus started coverage on shares of Celestica in a research note on Tuesday. They set a “buy” rating and a $140.00 price objective on the stock. BMO Capital Markets boosted their price target on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. TD Cowen boosted their price target on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. CIBC upgraded shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target on the stock in a research report on Friday, January 31st. Finally, Royal Bank of Canada boosted their price target on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Two equities research 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.27.

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.