Celestica (NYSE:CLS) Shares Down 2.3% After Insider Selling

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) were down 2.3% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $125.35 and last traded at $127.21. Approximately 1,054,541 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 5,047,388 shares. The stock had previously closed at $130.23.

Specifically, President Todd C. Cooper sold 65,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the completion of the sale, the president now owns 110,426 shares of the company’s stock, valued at approximately $14,331,086.28. This trade represents a 37.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $10,596,750.00. Following the transaction, the chief executive officer now directly owns 456,417 shares of the company’s stock, valued at approximately $64,487,157.93. This represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CEO Robert Mionis sold 441,325 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 531,417 shares of the company’s stock, valued at approximately $64,981,670.76. The trade was a 45.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

A number of research firms recently commented on CLS. TD Securities lifted their price target on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. UBS Group began coverage on Celestica in a research report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price for the company. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Barclays raised their price objective on Celestica from $91.00 to $139.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, CIBC upgraded shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $103.27.

Celestica Stock Up 2.3 %

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 firm’s 50-day moving average price is $105.64 and its 200 day moving average price is $76.47. The firm has a market cap of $15.07 billion, a P/E ratio of 34.63 and a beta of 2.27.

Institutional Inflows and Outflows

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