Celestica (TSE:CLS) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Celestica Inc. (TSE:CLS) (NYSE:CLS) shares crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of C$489.24 and traded as low as C$354.26. Celestica shares last traded at C$364.40, with a volume of 552,314 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. FBN Securities raised Celestica to a “strong-buy” rating in a research note on Tuesday, September 15th. Scotiabank upgraded Celestica to a “strong-buy” rating in a research report on Tuesday, August 11th. UBS Group raised Celestica from a “hold” rating to a “buy” rating and set a C$430.00 price objective for the company in a research note on Monday, August 24th. Finally, Sanford C. Bernstein upgraded Celestica to a “strong-buy” rating in a report on Wednesday, September 30th. Seven equities research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Strong Buy” and a consensus target price of C$388.33.

Celestica Stock Down 3.3%

The company has a 50-day simple moving average of C$461.05 and a 200-day simple moving average of C$489.24. The firm has a market cap of C$45.95 billion, a PE ratio of 37.84, a price-to-earnings-growth ratio of 0.14 and a beta of 1.36. The company has a debt-to-equity ratio of 32.68, a current ratio of 1.23 and a quick ratio of 0.54.

Celestica (TSE:CLS) (NYSE:CLS) last released its earnings results on Monday, July 27th. The company reported C$3.61 EPS for the quarter. Celestica had a return on equity of 50.64% and a net margin of 7.16%. The firm had revenue of C$6.68 billion for the quarter. Analysts expect that Celestica Inc. will post 5.03 earnings per share for the current fiscal year.

About Celestica

Celestica is a technology leader dedicated to driving customer success and market advancements. With deep expertise in design, engineering, manufacturing, supply chain, and platform solutions, Celestica enables critical data center infrastructure for AI, cloud and hybrid cloud, and advances technologies in high-growth markets. With a talented team and a strategic global network, Celestica helps its customers achieve competitive advantages.