Celestica (NYSE:CLS) Shares Down 0.5% – Should You Sell?

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares fell 0.5% on Wednesday . The stock traded as low as $87.97 and last traded at $89.80. 1,099,150 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 4,964,271 shares. The stock had previously closed at $90.22.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. JPMorgan Chase & Co. assumed coverage on Celestica in a research note on Friday, February 21st. They issued an “overweight” rating and a $166.00 price objective on the stock. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. TD Securities boosted their target price on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Canaccord Genuity Group increased their price target on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Stifel Nicolaus raised 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. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The stock has a market cap of $10.58 billion, a price-to-earnings ratio of 24.32 and a beta of 2.21. The firm has a 50 day simple moving average of $111.85 and a two-hundred day simple moving average of $83.24.

Insider Buying and Selling at Celestica

In other Celestica news, insider Yann L. Etienvre sold 83,179 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $122.28, for a total transaction of $10,171,128.12. Following the sale, the insider now directly owns 9,224 shares in the company, valued at approximately $1,127,910.72. This trade represents a 90.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael Wilson sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the completion of the transaction, the director now owns 1,784 shares of the company’s stock, valued at $176,134.32. This trade represents a 93.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 959,381 shares of company stock valued at $119,142,019. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Institutional investors have recently added to or reduced their stakes in the stock. Peregrine Capital Management LLC bought a new stake in shares of Celestica in the fourth quarter valued at about $30,000. Pinpoint Asset Management Ltd lifted its stake in Celestica by 109.6% in the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock valued at $32,000 after acquiring an additional 182 shares in the last quarter. Bessemer Group Inc. acquired a new position in Celestica during the 4th quarter worth approximately $42,000. R Squared Ltd bought a new position in shares of Celestica during the 4th quarter worth approximately $51,000. Finally, IFP Advisors Inc raised its holdings in shares of Celestica by 122.7% in the fourth quarter. IFP Advisors Inc now owns 668 shares of the technology company’s stock valued at $62,000 after purchasing an additional 368 shares during the last quarter. 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.