Celestica (TSE:CLS) Trading Down 1.8% – Here’s Why

Celestica Inc. (TSE:CLS) (NYSE:CLS)’s share price traded down 1.8% during mid-day trading on Thursday . The stock traded as low as C$183.59 and last traded at C$183.94. 45,951 shares traded hands during trading, a decline of 95% from the average session volume of 846,739 shares. The stock had previously closed at C$187.31.

Analyst Ratings Changes

A number of brokerages have recently commented on CLS. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. BMO Capital Markets increased their price objective on Celestica from C$72.00 to C$140.00 in a research note on Thursday, January 30th. Cormark increased their price target on Celestica from C$93.00 to C$137.00 in a research report on Thursday, January 30th. Barclays upgraded Celestica to a “strong-buy” rating in a research report on Tuesday, November 5th. Finally, UBS Group upgraded shares of Celestica to a “hold” rating in a report on Friday, November 22nd. Two research analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$96.75.

Celestica Price Performance

The company has a debt-to-equity ratio of 51.72, a quick ratio of 0.54 and a current ratio of 1.47. The firm has a market capitalization of C$14.36 billion, a price-to-earnings ratio of 38.67, a price-to-earnings-growth ratio of 0.14 and a beta of 2.23. The company has a 50-day moving average of C$158.95 and a 200-day moving average of C$111.85.

Insider Transactions at Celestica

In other news, Director Alok K. Agrawal sold 1,550 shares of Celestica stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of C$119.54, for a total transaction of C$185,293.91. Also, Senior Officer Mandeep Chawla sold 9,704 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of C$119.54, for a total transaction of C$1,160,059.44. Insiders sold 143,968 shares of company stock valued at $24,621,673 over the last quarter. Corporate insiders own 1.00% 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.