Celestica (TSE:CLS) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Celestica Inc. (TSE:CLS) (NYSE:CLS)’s share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$81.16 and traded as high as C$116.20. Celestica shares last traded at C$115.75, with a volume of 795,005 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CLS. TD Securities upped their price target on shares of Celestica from C$55.00 to C$61.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Barclays upgraded Celestica to a “strong-buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$44.00.

Celestica Price Performance

The company has a fifty day simple moving average of C$82.10 and a 200-day simple moving average of C$76.00. The company has a market cap of C$13.73 billion, a P/E ratio of 27.43, a PEG ratio of 0.14 and a beta of 2.23. The company has a debt-to-equity ratio of 52.78, a current ratio of 1.47 and a quick ratio of 0.54.

Insider Buying and Selling

In related news, Director Robert Andrew Mionis sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of C$96.83, for a total transaction of C$14,524,318.50. Also, Senior Officer Jason Phillips sold 18,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of C$116.94, for a total transaction of C$2,104,847.21. In the last quarter, insiders have sold 228,600 shares of company stock valued at $23,295,294. 1.00% of the stock is owned by corporate insiders.

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.