Celestica (TSE:CLS) Downgraded by CIBC

CIBC lowered shares of Celestica (TSE:CLS) (NYSE:CLS) from an outperform rating to a neutral rating in a report released on Friday, BayStreet.CA reports. The brokerage currently has C$49.00 price target on the stock, up from their previous price target of C$41.00.

Celestica Trading Up 0.4 %

Shares of Celestica stock opened at C$59.36 on Friday. The business has a fifty day simple moving average of C$60.55 and a two-hundred day simple moving average of C$46.74. Celestica has a 1 year low of C$14.31 and a 1 year high of C$68.91. The company has a market capitalization of C$7.08 billion, a price-to-earnings ratio of 21.35, a P/E/G ratio of 0.14 and a beta of 2.35. The company has a debt-to-equity ratio of 44.26, a current ratio of 1.40 and a quick ratio of 0.54.

Celestica (TSE:CLS) (NYSE:CLS) last posted its quarterly earnings data on Monday, January 29th. The company reported C$1.04 earnings per share for the quarter, topping the consensus estimate of C$0.92 by C$0.12. The firm had revenue of C$2.91 billion for the quarter, compared to analysts’ expectations of C$2.82 billion. Celestica had a return on equity of 14.19% and a net margin of 3.07%. Research analysts forecast that Celestica will post 3.9819121 EPS for the current year.

Insider Activity at Celestica

In other Celestica news, Director Robert Andrew Mionis sold 256,954 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of C$50.75, for a total transaction of C$13,040,415.50. In other Celestica news, Senior Officer Mandeep Chawla sold 134,246 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of C$48.26, for a total value of C$6,478,711.96. Also, Director Robert Andrew Mionis sold 256,954 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of C$50.75, for a total transaction of C$13,040,415.50. Insiders sold a total of 428,759 shares of company stock valued at $20,884,473 over the last quarter. 0.99% of the stock is owned by corporate insiders.

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.