Celestica (TSE:CLS) Downgraded by CIBC to Neutral

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

Celestica Price Performance

Shares of Celestica stock opened at C$60.17 on Friday. The company has a quick ratio of 0.54, a current ratio of 1.40 and a debt-to-equity ratio of 44.26. The company has a market cap of C$7.18 billion, a PE ratio of 21.64, a P/E/G ratio of 0.14 and a beta of 2.35. The business has a 50 day moving average of C$60.68 and a 200 day moving average of C$46.90. Celestica has a 52 week low of C$14.31 and a 52 week high of C$68.91.

Celestica (TSE:CLS) (NYSE:CLS) last announced its earnings results on Monday, January 29th. The company reported C$1.04 EPS for the quarter, beating analysts’ consensus estimates of C$0.92 by C$0.12. The company had revenue of C$2.91 billion during the quarter, compared to the consensus estimate of C$2.82 billion. Celestica had a return on equity of 14.19% and a net margin of 3.07%. As a group, equities research analysts forecast that Celestica will post 3.9819121 earnings per share for the current year.

Insider Activity at Celestica

In other Celestica news, Director Alok K. Agrawal bought 19,657 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was bought at an average price of C$35.88 per share, for a total transaction of C$705,293.16. In other Celestica news, Director Robert Andrew Mionis sold 256,954 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of C$50.75, for a total value of C$13,040,415.50. Also, Director Alok K. Agrawal acquired 19,657 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was purchased at an average price of C$35.88 per share, with a total value of C$705,293.16. Insiders sold a total of 428,759 shares of company stock worth $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.