Celestica (TSE:CLS) Shares Down 6.4% – Here’s Why

Celestica Inc. (TSE:CLS) (NYSE:CLS)’s stock price traded down 6.4% on Wednesday . The company traded as low as C$130.05 and last traded at C$130.18. 147,364 shares changed hands during trading, a decline of 86% from the average session volume of 1,085,697 shares. The stock had previously closed at C$139.07.

Analyst Ratings Changes

Several analysts recently issued reports on CLS shares. BMO Capital Markets lifted their price target on shares of Celestica from C$72.00 to C$140.00 in a research report on Thursday, January 30th. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Finally, Cormark lifted their price target on Celestica from C$93.00 to C$137.00 in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$96.75.

Celestica Stock Performance

The company’s 50 day moving average price is C$157.23 and its 200-day moving average price is C$122.72. The stock has a market cap of C$10.85 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 0.14 and a beta of 2.23. The company has a debt-to-equity ratio of 51.72, a quick ratio of 0.54 and a current ratio of 1.47.

Insiders Place Their Bets

In related news, Senior Officer Todd Christopher Cooper sold 1,772 shares of the firm’s stock in a transaction dated 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 Alok K. Agrawal sold 1,763 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of C$183.66, for a total transaction of C$323,800.28. In the last ninety days, insiders sold 132,714 shares of company stock valued at $23,276,319. 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.