Celestica (TSE:CLS) Stock Price Down 6.5% – What’s Next?

Celestica Inc. (TSE:CLS) (NYSE:CLS)’s stock price dropped 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 mid-day trading, a decline of 81% from the average daily volume of 1,134,485 shares. The stock had previously closed at C$130.38.

Wall Street Analysts Forecast Growth

CLS has been the topic of several recent research reports. BMO Capital Markets increased their price target on Celestica from C$72.00 to C$140.00 in a report on Thursday, January 30th. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Cormark raised their target price on Celestica from C$93.00 to C$137.00 in a report on Thursday, January 30th. Finally, UBS Group upgraded Celestica to a “hold” rating in a report on Friday, November 22nd. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Celestica has a consensus rating of “Buy” and a consensus target price of C$96.75.

Celestica Stock Up 7.7 %

The stock has a fifty day moving average price of C$159.68 and a two-hundred day moving average price of C$117.07. The company has a market cap of C$10.64 billion, a P/E ratio of 28.66, 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 current ratio of 1.47 and a quick ratio of 0.54.

Insider Buying and Selling

In related news, Senior Officer Todd Christopher Cooper sold 1,772 shares of Celestica stock in a transaction on Friday, February 7th. The stock was 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 firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of C$183.66, for a total value of C$323,800.28. Over the last three months, insiders have sold 132,714 shares of company stock worth $23,276,319. 1.00% of the stock is 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.