Celestica (CLS) Shares Down 1.2% on Analyst Downgrade
Celestica Inc (TSE:CLS) (NYSE:CLS) shares traded down 1.2% during trading on Thursday after Scotiabank lowered their price target on the stock from C$14.00 to C$11.00. Scotiabank currently has a sector perform rating on the stock. Celestica traded as low as C$13.51 and last traded at C$13.61. 491,729 shares traded hands during trading, an increase of 71% from the average session volume of 287,189 shares. The stock had previously closed at C$13.78.
A number of other research analysts also recently commented on the company. Royal Bank of Canada lowered their price objective on Celestica from C$13.00 to C$11.00 and set a “sector perform” rating for the company in a research note on Thursday. TD Securities lowered their price objective on Celestica to C$14.75 and set a “hold” rating for the company in a research note on Friday, October 27th. Finally, BMO Capital Markets restated a “market perform” rating and set a C$12.50 price objective on shares of Celestica in a research note on Friday, October 27th.
The stock has a market cap of $1,840.00, a P/E ratio of 13.55 and a beta of 0.36.
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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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