Wall Street Zen cut shares of Celestica (NYSE:CLS – Free Report) (TSE:CLS) from a buy rating to a hold rating in a research report released on Sunday morning,Wall Street Zen reports.
Several other brokerages also recently weighed in on CLS. Zacks Research raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 26th. Stifel Nicolaus set a $500.00 price target on shares of Celestica in a research note on Tuesday, July 28th. Barclays decreased their price target on shares of Celestica from $430.00 to $406.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Wolfe Research boosted their price objective on shares of Celestica from $425.00 to $475.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Finally, BWS Financial reissued a “buy” rating on shares of Celestica in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $439.81.
Read Our Latest Stock Analysis on Celestica
Celestica Price Performance
Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last released its quarterly earnings results on Monday, July 27th. The technology company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.25. Celestica had a return on equity of 39.96% and a net margin of 7.16%.The company had revenue of $4.68 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the business posted $1.39 earnings per share. Celestica’s revenue was up 62.4% compared to the same quarter last year. Celestica has set its FY 2026 guidance at 11.300-11.300 EPS and its Q3 2026 guidance at 2.880-3.080 EPS. On average, sell-side analysts expect that Celestica will post 10.71 earnings per share for the current fiscal year.
Insider Activity
In related news, CEO Robert Mionis sold 23,496 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $362.39, for a total value of $8,514,715.44. Following the sale, the chief executive officer directly owned 23,396 shares of the company’s stock, valued at approximately $8,478,476.44. This trade represents a 50.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mandeep Chawla sold 16,117 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $369.32, for a total transaction of $5,952,330.44. Following the completion of the sale, the chief financial officer owned 65,444 shares of the company’s stock, valued at approximately $24,169,778.08. The trade was a 19.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 356,553 shares of company stock valued at $135,238,444 in the last 90 days. 1.10% of the stock is owned by company insiders.
Hedge Funds Weigh In On Celestica
Large investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. grew its stake in shares of Celestica by 5,806,149.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,657,937 shares of the technology company’s stock valued at $1,081,323,000 after buying an additional 3,657,874 shares during the period. Cibc World Market Inc. purchased a new position in shares of Celestica in the 2nd quarter worth $757,811,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Celestica in the 2nd quarter worth $674,199,000. Viking Global Investors LP acquired a new position in Celestica in the third quarter valued at $424,459,000. Finally, Norges Bank acquired a new position in Celestica in the fourth quarter valued at $456,511,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.
About Celestica
Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.
The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.
Featured Stories
- Five stocks we like better than Celestica
- Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected
- Despite Post-Earnings Drop, Wall Street Analysts Eye New Highs for Broadcom Stock
- Morgan Stanley Eyes Good Things Ahead for Meta After $18 Billion Legal Settlement
- Q3 Earnings Could Be the Catalyst the Market Has Been Waiting For
Receive News & Ratings for Celestica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celestica and related companies with MarketBeat.com's FREE daily email newsletter.
