CIBC Lowers Celestica (TSE:CLS) to Neutral

Celestica (TSE:CLS) (NYSE:CLS) was downgraded by analysts at CIBC from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday, BayStreet.CA reports. They presently have a C$49.00 price objective on the stock, up from their prior price objective of C$41.00. CIBC’s price objective points to a potential downside of 17.45% from the company’s current price.

Celestica Trading Up 0.4 %

Shares of TSE:CLS opened at C$59.36 on Friday. The stock has a market capitalization of C$7.08 billion, a PE ratio of 21.35, a P/E/G ratio of 0.14 and a beta of 2.35. Celestica has a 1 year low of C$14.31 and a 1 year high of C$68.91. The firm has a fifty day moving average price of C$60.55 and a 200 day moving average price of C$46.66. The company has a current ratio of 1.40, a quick ratio of 0.54 and a debt-to-equity ratio of 44.26.

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

Insider Activity

In related news, Director Alok K. Agrawal acquired 19,657 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was acquired at an average price of C$35.88 per share, with a total value of C$705,293.16. In other news, Director Alok K. Agrawal acquired 19,657 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were purchased at an average cost of C$35.88 per share, with a total value of C$705,293.16. Also, Director Robert Andrew Mionis sold 256,954 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of C$50.75, for a total transaction of C$13,040,415.50. Over the last 90 days, insiders sold 428,759 shares of company stock valued at $20,884,473. Insiders own 0.99% of the company’s stock.

About Celestica

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.