Celestica (TSE:CLS) Trading Down 6.5% - Here's Why

Celestica Inc. (TSE:CLS - Get Free Report) NYSE: CLS's share price was down 6.5% during mid-day trading on Thursday . The stock traded as low as C$116.75 and last traded at C$121.86. Approximately 218,578 shares changed hands during trading, a decline of 81% from the average daily volume of 1,134,485 shares. The stock had previously closed at C$130.38.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CLS shares. Cibc World Mkts upgraded shares of Celestica from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. BMO Capital Markets lifted their target price on shares of Celestica from C$72.00 to C$140.00 in a research report on Thursday, January 30th. Cormark lifted their target price on shares of Celestica from C$93.00 to C$137.00 in a research report on Thursday, January 30th. Finally, UBS Group upgraded shares of Celestica to a "hold" rating in a research report on Friday, November 22nd. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of C$96.75.

Celestica Price Performance

The stock has a market capitalization of C$9.91 billion, a PE ratio of 26.70, a P/E/G ratio of 0.14 and a beta of 2.23. The firm's 50 day simple moving average is C$159.33 and its 200 day simple moving average is C$118.06. The company has a debt-to-equity ratio of 51.72, a current ratio of 1.47 and a quick ratio of 0.54.

Remove Ads

Insiders Place Their Bets

In related news, Senior Officer Todd Christopher Cooper sold 1,772 shares of the company's stock in a transaction on Friday, February 7th. The shares were sold at an average price of C$189.53, for a total transaction of C$335,851.06. Also, Director Michael M. Wilson sold 5,100 shares of the company's stock in a transaction on Monday, January 6th. The shares were sold at an average price of C$141.77, for a total transaction of C$723,030.57. Over the last ninety days, insiders have sold 132,714 shares of company stock valued at $23,276,319. 1.00% of the stock is currently owned by corporate insiders.

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.