Insider Selling: Celestica Inc. (NYSE:CLS) Director Sells 25,000 Shares of Stock

Celestica Inc. (NYSE:CLS) (TSE:CLS) Director Michael Wilson sold 25,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the transaction, the director now owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This represents a 93.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Celestica Trading Up 4.4 %

CLS stock traded up $4.35 during midday trading on Wednesday, reaching $102.62. The company’s stock had a trading volume of 2,416,348 shares, compared to its average volume of 1,781,614. Celestica Inc. has a 1 year low of $26.62 and a 1 year high of $103.46. The firm has a market capitalization of $11.94 billion, a price-to-earnings ratio of 32.58 and a beta of 2.25. The stock has a fifty day simple moving average of $88.45 and a two-hundred day simple moving average of $65.93. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter last year, the business posted $0.65 EPS. On average, equities research analysts predict that Celestica Inc. will post 3.44 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CLS. TD Securities raised their price objective on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. UBS Group initiated coverage on shares of Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price for the company. Canaccord Genuity Group upped 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. Stifel Nicolaus lifted their price objective on shares of Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Royal Bank of Canada upped their target price on shares of Celestica from $75.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.45.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Oliver Luxxe Assets LLC raised its position in Celestica by 0.7% during the 4th quarter. Oliver Luxxe Assets LLC now owns 89,927 shares of the technology company’s stock valued at $8,298,000 after purchasing an additional 659 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Celestica by 21.1% during the third quarter. Franklin Resources Inc. now owns 276,788 shares of the technology company’s stock valued at $14,149,000 after buying an additional 48,251 shares during the period. World Investment Advisors LLC bought a new stake in shares of Celestica in the third quarter valued at about $4,003,000. Sanctuary Advisors LLC lifted its stake in Celestica by 10.5% in the third quarter. Sanctuary Advisors LLC now owns 41,228 shares of the technology company’s stock worth $2,108,000 after acquiring an additional 3,902 shares during the period. Finally, Invst LLC grew its holdings in Celestica by 24.0% during the 3rd quarter. Invst LLC now owns 10,069 shares of the technology company’s stock worth $515,000 after acquiring an additional 1,948 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

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.