Shares of Celestica, Inc. (NYSE:CLS – Get Free Report) (TSE:CLS) dropped 4.2% during trading on Wednesday. The stock traded as low as $367.15 and last traded at $371.94. 1,564,357 shares changed hands during trading, a decline of 35% from the average daily volume of 2,412,420 shares. The stock had previously closed at $388.24.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the stock. UBS Group upgraded shares of Celestica from a “neutral” rating to a “buy” rating and upped their price target for the company from $410.00 to $430.00 in a report on Monday, August 24th. Sanford C. Bernstein started coverage on shares of Celestica in a report on Wednesday, September 30th. They set an “outperform” rating and a $520.00 price objective on the stock. Weiss Ratings cut shares of Celestica from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. TD Cowen reaffirmed a “buy” rating on shares of Celestica in a research note on Wednesday, September 16th. Finally, JPMorgan Chase & Co. increased their target price on Celestica from $445.00 to $485.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Twenty-three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $450.50.
View Our Latest Stock Report on Celestica
Celestica Price Performance
Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last issued 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 net margin of 7.16% and a return on equity of 39.96%. The company had revenue of $4.68 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period last year, the business earned $1.39 EPS. The business’s quarterly revenue was up 62.4% on a year-over-year basis. Celestica has set its FY 2026 guidance at 11.300-11.300 EPS and its Q3 2026 guidance at 2.880-3.080 EPS. Sell-side analysts forecast that Celestica, Inc. will post 10.71 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CEO Robert Mionis sold 98,453 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $368.99, for a total value of $36,328,172.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mandeep Chawla sold 16,117 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer directly owned 65,444 shares of the company’s stock, valued at approximately $24,169,778.08. This trade represents a 19.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 243,067 shares of company stock worth $89,200,967. 1.10% of the stock is owned by insiders.
Institutional Trading of Celestica
A number of hedge funds and other institutional investors have recently modified their holdings of CLS. Renaissance Technologies LLC acquired a new stake in shares of Celestica during the first quarter worth $68,952,000. Quantinno Capital Management LP grew its stake in shares of Celestica by 73.7% in the first quarter. Quantinno Capital Management LP now owns 23,954 shares of the technology company’s stock valued at $6,746,000 after acquiring an additional 10,164 shares in the last quarter. K.J. Harrison & Partners Inc acquired a new position in shares of Celestica in the second quarter valued at about $1,092,000. Ninepoint Partners LP bought a new position in Celestica during the second quarter worth about $2,880,000. Finally, Ferguson Wellman Capital Management Inc. acquired a new stake in Celestica in the 3rd quarter worth about $27,821,000. Institutional investors and hedge funds own 67.38% of the company’s stock.
Celestica Company Profile
Celestica Inc (NYSE: CLS) is a global provider of design, manufacturing, and supply-chain services for original equipment manufacturers and other technology companies. The company helps customers develop, produce, deploy, and support complex hardware and electronic systems, serving industries such as communications, enterprise technology, aerospace and defense, industrial technology, health care, and semiconductor equipment.
Its services include product design and engineering, printed circuit board and systems assembly, manufacturing, testing, logistics, aftermarket support, and supply-chain management.
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