Celestica (TSE:CLS) Stock Crosses Below 200 Day Moving Average – Here’s Why

Celestica Inc. (TSE:CLS) (NYSE:CLS) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$489.36 and traded as low as C$420.50. Celestica shares last traded at C$446.70, with a volume of 632,248 shares.

Analysts Set New Price Targets

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

Celestica Stock Performance

The company has a debt-to-equity ratio of 32.68, a current ratio of 1.23 and a quick ratio of 0.54. The company has a market capitalization of C$54.13 billion, a price-to-earnings ratio of 44.58, a price-to-earnings-growth ratio of 0.14 and a beta of 1.36. The firm has a fifty day simple moving average of C$466.64 and a 200 day simple moving average of C$488.94.

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

Celestica Company Profile

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.