Celestica (TSE:CLS) Stock Price Down 7.8% - Here's What Happened

Celestica Inc. (TSE:CLS - Get Free Report) NYSE: CLS shares were down 7.8% during mid-day trading on Friday . The stock traded as low as C$444.14 and last traded at C$446.62. Approximately 228,144 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 897,693 shares. The stock had previously closed at C$484.37.Analyst Ratings ChangesCLS has been the topic of a number of research analyst reports. TD Securities increased their price target on Celestica from C$238.00 to C$305.00 and gave the stock a "hold" rating in a report on Wednesday, October 29th. Citigroup upgraded shares of Celestica from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 10th. Finally, The Goldman Sachs Group upgraded shares of Celestica to a "strong-buy" rating in a report on Thursday, October 16th. Five investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Strong Buy" and a consensus target price of C$171.50.Read Our Latest Research Report on CelesticaCelestica Price PerformanceThe stock has a market capitalization of C$50.43 billion, a P/E ratio of 71.28, a price-to-earnings-growth ratio of 0.14 and a beta of 1.47. The business has a fifty day simple moving average of C$426.91 and a 200 day simple moving average of C$312.11. The company has a current ratio of 1.47, a quick ratio of 0.54 and a debt-to-equity ratio of 51.72. Celestica (TSE:CLS - Get Free Report) NYSE: CLS last announced its earnings results on Monday, October 27th. The company reported C$1.58 earnings per share (EPS) for the quarter. The company had revenue of C$4.45 billion for the quarter. Celestica had a return on equity of 21.24% and a net margin of 4.08%. On average, analysts expect that Celestica Inc. will post 5.028804 earnings per share for the current year. Celestica Company Profile (Get Free Report)Celestica Inc offers supply chain solutions. The firm operates in two segments: Advanced Technology Solutions (ATS) and Connectivity & Cloud Solutions (CCS). ATS segment consists of the ATS end market and is comprised of A&D, Industrial, Energy, HealthTech, and Capital Equipment businesses. Capital Equipment business is comprised of our semiconductor, display, and power & signal distribution equipment businesses.Further ReadingFive stocks we like better than CelesticaWhat Does Downgrade Mean in Investing?2 Small-Cap Biotechs That Could Reward Patient InvestorsWhat Are the FAANG Stocks and Are They Good Investments?Santa Claus May Be Coming Early for Palantir InvestorsHow to Most Effectively Use the MarketBeat Earnings Screener4 Canadian Oil Stocks That Are Filling the Heavy Crude GapThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Celestica Right Now?Before you consider Celestica, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Celestica wasn't on the list.While Celestica currently has a Strong Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here