Canaccord Genuity Group Issues Pessimistic Forecast for Celestica (TSE:CLS) Stock Price

Celestica (TSE:CLS) (NYSE:CLS) had its price objective lowered by investment analysts at Canaccord Genuity Group from C$138.00 to C$126.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 4.58% from the stock’s current price.

Several other brokerages also recently issued reports on CLS. Cormark upped their price target on Celestica from C$93.00 to C$137.00 in a report on Thursday, January 30th. BMO Capital Markets lowered their target price on shares of Celestica from C$140.00 to C$118.00 in a report on Monday. Finally, Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$110.50.

Celestica Trading Down 0.6 %

TSE:CLS opened at C$120.48 on Monday. Celestica has a one year low of C$55.10 and a one year high of C$206.57. The company has a market cap of C$10.19 billion, a PE ratio of 27.45, a PEG ratio of 0.14 and a beta of 2.23. The company has a debt-to-equity ratio of 51.72, a current ratio of 1.47 and a quick ratio of 0.54. The firm has a 50-day moving average of C$124.38 and a 200-day moving average of C$130.86.

Insider Activity

In other Celestica news, Senior Officer Todd Christopher Cooper sold 1,772 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of C$189.53, for a total value of C$335,851.06. Also, Senior Officer Mandeep Chawla sold 9,483 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of C$183.66, for a total value of C$1,741,689.20. Insiders have sold 127,614 shares of company stock valued at $22,553,289 in the last 90 days. Insiders own 1.00% 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.