Celestica (TSE:CLS) Share Price Passes Below 200-Day Moving Average – Here’s Why

Celestica Inc. (TSE:CLS) (NYSE:CLS) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$125.02 and traded as low as C$110.43. Celestica shares last traded at C$117.93, with a volume of 573,402 shares changing hands.

Analyst Ratings Changes

A number of analysts have commented 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 raised their price objective on shares of Celestica from C$72.00 to C$140.00 in a research note on Thursday, January 30th. Finally, Cormark upped their target price on Celestica from C$93.00 to C$137.00 in a research report on Thursday, January 30th. 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 company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$96.75.

Celestica Stock Performance

The company’s 50-day moving average price is C$151.65 and its two-hundred day moving average price is C$125.02. The company has a market cap of C$9.98 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 0.14 and a beta of 2.23. The company has a current ratio of 1.47, a quick ratio of 0.54 and a debt-to-equity ratio of 51.72.

Insider Buying and Selling

In other Celestica news, Senior Officer Mandeep Chawla sold 9,483 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of C$183.66, for a total transaction of C$1,741,689.20. Also, Director Michael M. Wilson sold 5,100 shares of the company’s stock in a transaction dated 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 sold 132,714 shares of company stock worth $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.