Celestica (TSE:CLS) Share Price Passes Above Fifty Day Moving Average - Here's What Happened

Key Points

• Celestica's stock price has recently crossed above its 50-day moving average of C$227.49 and was last traded at C$269.04.
• The company has received multiple upgrades from analysts, with a notable increase to a "strong-buy" rating from Argus and a prevailing average price target of C$127.00.
• Celestica operates in supply chain solutions across multiple regions and segments, offering various services including electronics manufacturing and logistics.

Celestica Inc. (TSE:CLS - Get Free Report) NYSE: CLS shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$227.49 and traded as high as C$272.00. Celestica shares last traded at C$269.04, with a volume of 510,578 shares traded.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. BNP Paribas raised shares of Celestica to a "strong-buy" rating in a research report on Wednesday, June 11th. BMO Capital Markets reduced their price objective on shares of Celestica from C$140.00 to C$118.00 in a research note on Monday, April 28th. Canaccord Genuity Group decreased their price objective on Celestica from C$138.00 to C$126.00 and set a "buy" rating for the company in a report on Monday, April 28th. Argus upgraded Celestica to a "strong-buy" rating in a report on Tuesday, April 29th. Finally, Citigroup raised Celestica to a "hold" rating in a research report on Monday, July 21st. Four research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Celestica currently has a consensus rating of "Buy" and an average price target of C$127.00.

Celestica Trading Up 3.6%

The company has a market cap of C$22.12 billion, a P/E ratio of 59.56, a P/E/G ratio of 0.14 and a beta of 2.23. The business's 50-day moving average price is C$234.18 and its 200 day moving average price is C$173.84. The company has a debt-to-equity ratio of 51.72, a quick ratio of 0.54 and a current ratio of 1.47.

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.