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

Celestica Inc. (NYSE:CLS) (TSE:CLS) was down 2.3% 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 were traded during 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 Celestica stock in a transaction dated Friday, February 7th. The stock was 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 directly owns 110,426 shares of the company’s stock, valued at $14,331,086.28. The trade was a 37.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert Mionis sold 75,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total value of $10,596,750.00. Following the completion of the transaction, the chief executive officer now owns 456,417 shares in the company, valued at approximately $64,487,157.93. The trade was a 14.11 % decrease in their position. The disclosure for this sale can be found here. In related news, CEO Robert Mionis sold 441,325 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $122.28, for a total value of $53,965,221.00. Following the completion of the transaction, the chief executive officer now directly owns 531,417 shares of the company’s stock, valued at $64,981,670.76. This represents a 45.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

Several brokerages have recently weighed in on CLS. Canaccord Genuity Group boosted their price objective on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Royal Bank of Canada lifted their target price on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Stifel Nicolaus started coverage on Celestica in a research report on Tuesday, February 4th. They issued a “buy” rating and a $140.00 target price for the company. TD Cowen lifted their price target on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Barclays increased their price objective on Celestica from $91.00 to $139.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.27.

Celestica Stock Performance

The company has a market cap of $14.79 billion, a PE ratio of 33.87 and a beta of 2.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The stock’s 50-day simple moving average is $104.10 and its 200 day simple moving average is $75.58.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC purchased a new position in shares of Celestica during the 4th quarter worth approximately $385,000. Quantbot Technologies LP raised its position in Celestica by 120.9% in the third quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock worth $5,299,000 after acquiring an additional 56,732 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in Celestica in the third quarter valued at $61,210,000. Sigma Planning Corp purchased a new stake in shares of Celestica during the 3rd quarter worth $420,000. Finally, Advisors Asset Management Inc. grew its stake in shares of Celestica by 61.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock worth $1,682,000 after purchasing an additional 12,584 shares during the period. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.