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

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

Analyst Ratings Changes

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

Celestica Trading Down 7.7 %

The firm’s 50 day moving average is C$157.23 and its 200 day moving average is C$122.72. The company has a debt-to-equity ratio of 51.72, a current ratio of 1.47 and a quick ratio of 0.54. The company has a market cap of C$10.85 billion, a PE ratio of 29.23, a PEG ratio of 0.14 and a beta of 2.23.

Insider Transactions at Celestica

In other news, Director Alok K. Agrawal sold 1,763 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of C$183.66, for a total value of C$323,800.28. Also, Senior Officer Todd Christopher Cooper sold 1,772 shares of the firm’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. Over the last quarter, insiders have sold 132,714 shares of company stock valued at $23,276,319. 1.00% of the stock is currently owned by company insiders.

Celestica Company Profile

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.