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

Celestica Inc. (TSE:CLS) (NYSE:CLS)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$458.52 and traded as low as C$423.12. Celestica shares last traded at C$426.96, with a volume of 543,164 shares traded.

Analyst Ratings Changes

A number of research analysts have commented on CLS shares. Susquehanna upgraded shares of Celestica to a “strong-buy” rating in a research report on Wednesday, April 1st. TD upgraded shares of Celestica from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$350.00 to C$430.00 in a report on Wednesday, April 29th. Finally, TD Securities raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 29th. Five analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Strong Buy” and an average target price of C$367.50.

Celestica Trading Down 9.3%

The firm’s 50 day moving average is C$515.71 and its 200 day moving average is C$458.52. The company has a debt-to-equity ratio of 36.81, a current ratio of 1.26 and a quick ratio of 0.54. The company has a market capitalization of C$49.09 billion, a PE ratio of 51.75, a P/E/G ratio of 0.14 and a beta of 1.64.

Celestica (TSE:CLS) (NYSE:CLS) last announced its quarterly earnings results on Monday, April 27th. The company reported C$3.00 earnings per share for the quarter. The business had revenue of C$5.63 billion during the quarter. Celestica had a net margin of 6.95% and a return on equity of 47.41%. As a group, equities analysts predict that Celestica Inc. will post 5.028804 EPS for the current year.

Celestica Company Profile

Celestica Inc offers supply chain solutions. The firm operates in two segments: Advanced Technology Solutions (ATS) and Connectivity & Cloud Solutions (CCS). ATS segment consists of the ATS end market and is comprised of A&D, Industrial, Energy, HealthTech, and Capital Equipment businesses. Capital Equipment business is comprised of our semiconductor, display, and power & signal distribution equipment businesses. CCS segment that derives majority revenue consists of Communications and Enterprise end markets.