Celestica (TSE:CLS) Shares Pass Below 200-Day Moving Average – Here’s Why

Shares of 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$69.42 and traded as low as C$67.75. Celestica shares last traded at C$69.79, with a volume of 379,109 shares trading hands.

Analyst Upgrades and Downgrades

Separately, TD Securities raised their target price on shares of Celestica from C$55.00 to C$61.00 and gave the company a “buy” rating in a research note on Friday, July 26th.

Celestica Stock Performance

The stock’s 50 day moving average price is C$67.32 and its 200 day moving average price is C$69.44. The company has a current ratio of 1.47, a quick ratio of 0.54 and a debt-to-equity ratio of 52.78. The firm has a market cap of C$8.67 billion, a PE ratio of 17.65, a P/E/G ratio of 0.14 and a beta of 2.25.

Celestica (TSE:CLS) (NYSE:CLS) last issued its earnings results on Wednesday, July 24th. The company reported C$1.17 EPS for the quarter, beating analysts’ consensus estimates of C$0.99 by C$0.18. Celestica had a net margin of 4.16% and a return on equity of 20.99%. The business had revenue of C$3.27 billion for the quarter, compared to the consensus estimate of C$3.09 billion. As a group, equities analysts forecast that Celestica Inc. will post 5.432279 earnings per share for the current fiscal year.

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.