Insider Selling: Celestica (NYSE:CLS) President Sells $25,722,175.80 in Stock

Celestica, Inc. (NYSE:CLS) (TSE:CLS) President Todd Cooper sold 89,484 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $287.45, for a total value of $25,722,175.80. Following the completion of the sale, the president directly owned 108,970 shares of the company’s stock, valued at $31,323,426.50. The trade was a 45.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Celestica Stock Up 6.9%

Shares of NYSE:CLS opened at $294.91 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.47. Celestica, Inc. has a 52-week low of $58.05 and a 52-week high of $363.40. The business’s 50 day simple moving average is $307.87 and its two-hundred day simple moving average is $270.11. The firm has a market cap of $33.93 billion, a P/E ratio of 41.07 and a beta of 1.86.

Analyst Upgrades and Downgrades

CLS has been the subject of several recent research reports. Canaccord Genuity Group boosted their target price on shares of Celestica from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Monday. TD Cowen reissued a “hold” rating on shares of Celestica in a report on Friday, January 30th. Zacks Research downgraded Celestica from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Celestica in a research report on Monday, January 26th. Finally, JPMorgan Chase & Co. increased their price target on Celestica from $295.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Celestica presently has an average rating of “Moderate Buy” and an average price target of $356.59.

Institutional Trading of Celestica

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

About Celestica

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.