Celestica (TSE:CLS) Shares Down 12% – Here’s What Happened

Celestica Inc. (TSE:CLS) (NYSE:CLS) shares dropped 12% during trading on Monday . The company traded as low as C$142.55 and last traded at C$153.68. Approximately 334,841 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 514,602 shares. The stock had previously closed at C$174.68.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Cormark raised their price objective on Celestica from C$93.00 to C$137.00 in a research note on Thursday. Barclays raised Celestica to a “strong-buy” rating in a research note on Tuesday, November 5th. BMO Capital Markets raised their target price on Celestica from C$72.00 to C$140.00 in a research note on Thursday. UBS Group upgraded shares of Celestica to a “hold” rating in a report on Friday, November 22nd. Finally, Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday. Two research analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$96.75.

Celestica Price Performance

The firm has a market capitalization of C$21.28 billion, a P/E ratio of 42.52, a PEG ratio of 0.14 and a beta of 2.23. The company has a debt-to-equity ratio of 52.78, a quick ratio of 0.54 and a current ratio of 1.47. The firm has a 50-day moving average of C$140.97 and a 200-day moving average of C$101.14.

Insider Buying and Selling at Celestica

In other Celestica news, Senior Officer Jason Phillips sold 18,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of C$116.94, for a total value of C$2,104,847.21. Also, Director Robert Andrew Mionis sold 60,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of C$110.13, for a total value of C$6,607,522.80. In the last ninety days, insiders sold 94,354 shares of company stock worth $10,780,754. Insiders own 1.00% of the company’s stock.

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.