Celestica (TSE:CLS) Shares Pass Above 50 Day Moving Average – Here’s Why

Celestica Inc. (TSE:CLS) (NYSE:CLS) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$111.77 and traded as high as C$140.58. Celestica shares last traded at C$136.94, with a volume of 1,261,574 shares changing hands.

Analysts Set New Price Targets

CLS has been the topic of several recent analyst reports. UBS Group upgraded shares of Celestica to a “hold” rating in a research report on Friday, November 22nd. Barclays upgraded shares of Celestica to a “strong-buy” rating in a research note on Tuesday, November 5th.

Celestica Stock Performance

The business’s fifty day moving average is C$111.77 and its two-hundred day moving average is C$85.96. The stock has a market capitalization of C$16.24 billion, a PE ratio of 32.45, a price-to-earnings-growth ratio of 0.14 and a beta of 2.23. The company has a quick ratio of 0.54, a current ratio of 1.47 and a debt-to-equity ratio of 52.78.

Insiders Place Their Bets

In other news, Senior Officer Mandeep Chawla sold 9,704 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of C$119.54, for a total value of C$1,160,059.44. Also, Director Leila Wong sold 600 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of C$97.68, for a total value of C$58,605.18. Insiders sold 239,854 shares of company stock valued at $24,640,647 in the last three months. Corporate 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.