Celestica (TSE:CLS) Downgraded to “Neutral” at CIBC

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 brokerage currently has C$49.00 price objective on the stock, up from their previous price objective of C$41.00.

Celestica Stock Performance

TSE:CLS opened at C$59.36 on Friday. The firm has a market cap of C$7.08 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 0.14 and a beta of 2.35. Celestica has a fifty-two week low of C$14.31 and a fifty-two week high of C$68.91. The company has a debt-to-equity ratio of 44.26, a quick ratio of 0.54 and a current ratio of 1.40. The business has a 50 day moving average price of C$60.55 and a 200-day moving average price of C$46.58.

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

Insiders Place Their Bets

In other news, Senior Officer Mandeep Chawla sold 134,246 shares of Celestica stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of C$48.26, for a total value of C$6,478,711.96. In other Celestica news, Director Robert Andrew Mionis sold 256,954 shares of the business’s stock in a transaction dated 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, Senior Officer Mandeep Chawla sold 134,246 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of C$48.26, for a total value of C$6,478,711.96. Over the last 90 days, insiders sold 428,759 shares of company stock worth $20,884,473. 0.99% of the stock is owned by corporate insiders.

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.