Celestica (TSE:CLS) Rating Lowered to Neutral at CIBC

Celestica (TSE:CLS) (NYSE:CLS) was downgraded by analysts at CIBC from an “outperform” rating to a “neutral” rating in a research note issued on Friday, BayStreet.CA reports. They currently have a C$49.00 price objective on the stock, up from their previous price objective of C$41.00. CIBC’s price objective suggests a potential downside of 16.54% from the stock’s current price.

Celestica Stock Down 0.7 %

Shares of TSE CLS traded down C$0.41 during trading on Friday, reaching C$58.71. 399,904 shares of the stock were exchanged, compared to its average volume of 558,835. The business’s 50-day moving average price is C$60.43 and its 200 day moving average price is C$46.42. Celestica has a twelve month low of C$14.31 and a twelve month high of C$68.91. 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 capitalization of C$7.00 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 0.14 and a beta of 2.35.

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

Insider Transactions at Celestica

In other news, Director Robert Andrew Mionis sold 256,954 shares of the company’s stock in a transaction dated 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 related news, Director Robert Andrew Mionis sold 256,954 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of C$50.75, for a total value of C$13,040,415.50. Also, 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, with a total value of C$705,293.16. Over the last quarter, insiders sold 428,759 shares of company stock worth $20,884,473. Insiders own 0.99% 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.