Celestica Inc (CLS) Trading Down 2.4% on Analyst Downgrade

Celestica Inc (TSE:CLS) (NYSE:CLS) fell 2.4% on Monday after TD Securities lowered their price target on the stock to C$14.75. TD Securities currently has a hold rating on the stock. Celestica traded as low as C$13.37 and last traded at C$13.47. 286,795 shares traded hands during trading, an increase of 22% from the average session volume of 235,016 shares. The stock had previously closed at C$13.80.

Other research analysts have also issued reports about the company. BMO Capital Markets reaffirmed a “market perform” rating and set a C$14.50 target price on shares of Celestica in a report on Wednesday, July 26th. Royal Bank Of Canada lowered their target price on Celestica to C$16.50 and set a “sector perform” rating on the stock in a report on Friday.

The firm has a 50-day moving average price of $15.29 and a 200 day moving average price of $16.75. The company has a market cap of $1.92 billion and a PE ratio of 14.55.

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Celestica Company Profile

Celestica Inc is a provider of supply chain solutions. The Company operates in electronics manufacturing services business segment. The Company offers a range of services to its customers, including design and development, engineering services, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics and after-market repair and return services.

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