Celestica (NYSE:CLS) Trading Down 6.8% – Time to Sell?

Celestica, Inc. (NYSE:CLS) (TSE:CLS) was down 6.8% during mid-day trading on Tuesday . The company traded as low as $297.83 and last traded at $297.5530. Approximately 1,851,457 shares changed hands during trading, a decline of 43% from the average daily volume of 3,265,138 shares. The stock had previously closed at $319.21.

Analyst Ratings Changes

Several equities analysts have recently commented on CLS shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $400.00 price target on shares of Celestica in a research note on Thursday, January 22nd. TD Cowen reaffirmed a “hold” rating on shares of Celestica in a research report on Friday, January 30th. TD Securities lifted their price target on shares of Celestica from $305.00 to $330.00 and gave the company a “hold” rating in a research report on Friday, January 30th. Bank of America assumed coverage on shares of Celestica in a report on Wednesday, January 28th. They issued a “buy” rating and a $400.00 price objective on the stock. Finally, Aletheia Capital lifted their target price on shares of Celestica from $330.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Celestica currently has an average rating of “Moderate Buy” and a consensus target price of $356.59.

Celestica Stock Performance

The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $34.26 billion, a price-to-earnings ratio of 41.47 and a beta of 1.86. The stock’s fifty day simple moving average is $307.17 and its 200-day simple moving average is $273.73.

Insiders Place Their Bets

In other Celestica news, President Todd C. Cooper sold 1,065 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total value of $301,938.15. Following the sale, the president owned 108,970 shares of the company’s stock, valued at $30,894,084.70. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Yann L. Etienvre sold 1,145 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total value of $324,618.95. The SEC filing for this sale provides additional information. Insiders have sold a total of 297,923 shares of company stock worth $88,027,459 in the last quarter. 0.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Celestica

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Pinney & Scofield Inc. increased its holdings in Celestica by 20.0% in the third quarter. Pinney & Scofield Inc. now owns 180 shares of the technology company’s stock valued at $44,000 after buying an additional 30 shares during the last quarter. LeConte Wealth Management LLC increased its holdings in shares of Celestica by 3.5% in the 4th quarter. LeConte Wealth Management LLC now owns 1,001 shares of the technology company’s stock valued at $296,000 after acquiring an additional 34 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Celestica by 42.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock worth $31,000 after acquiring an additional 37 shares in the last quarter. World Equity Group Inc. boosted its holdings in Celestica by 1.7% in the third quarter. World Equity Group Inc. now owns 2,263 shares of the technology company’s stock valued at $558,000 after purchasing an additional 38 shares in the last quarter. Finally, Terra Nova Asset Management LLC increased its stake in Celestica by 2.3% in the fourth quarter. Terra Nova Asset Management LLC now owns 1,686 shares of the technology company’s stock valued at $498,000 after purchasing an additional 38 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Company Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.