Celestica (NYSE:CLS) Insider Sells $24,786,526.05 in Stock

Celestica, Inc. (NYSE:CLS) (TSE:CLS) insider Yann Etienvre sold 86,229 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $287.45, for a total value of $24,786,526.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Celestica Stock Up 6.9%

Shares of Celestica stock 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 company’s 50 day moving average price is $307.87 and its 200-day moving average price is $270.11. The stock has a market capitalization of $33.93 billion, a price-to-earnings ratio of 41.07 and a beta of 1.86.

Hedge Funds Weigh In On Celestica

A number of institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Celestica by 5,806,149.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,657,937 shares of the technology company’s stock valued at $1,081,323,000 after buying an additional 3,657,874 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Celestica by 471.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,146,928 shares of the technology company’s stock valued at $775,133,000 after acquiring an additional 2,596,318 shares during the period. Viking Global Investors LP bought a new stake in Celestica during the third quarter worth about $424,459,000. Norges Bank purchased a new stake in Celestica in the second quarter worth about $236,069,000. Finally, SRS Investment Management LLC purchased a new stake in Celestica in the second quarter worth about $135,289,000. Institutional investors own 67.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CLS. Bank of America began coverage on shares of Celestica in a research note on Wednesday, January 28th. They set a “buy” rating and a $400.00 price objective for the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $400.00 price target on shares of Celestica in a research report on Thursday, January 22nd. JPMorgan Chase & Co. increased their price objective on Celestica from $295.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. New Street Research set a $400.00 target price on Celestica in a research note on Wednesday, October 29th. Finally, TD Cowen restated a “hold” rating on shares of Celestica in a report on Friday, January 30th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $356.59.

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.