Celestica (NYSE:CLS) Shares Up 4.5% - Here's Why

Key Points

• Celestica's stock price increased by 4.5%, reaching $283.00 after trading as high as $284.39 during Thursday's session.
• Numerous analysts have upgraded their ratings and price targets for Celestica, with JPMorgan raising its target to $295.00 and Barclays increasing it to $220.00.
• The company reported a 21.0% year-over-year revenue increase in its recent quarterly earnings, with earnings per share hitting $1.39, which exceeds estimates.

Celestica, Inc. (NYSE:CLS - Get Free Report) TSE: CLS's stock price shot up 4.5% during trading on Thursday . The company traded as high as $284.39 and last traded at $283.00. 1,910,377 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 4,028,927 shares. The stock had previously closed at $270.89.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CLS. Barclays boosted their target price on Celestica from $146.00 to $220.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. TD Cowen reiterated a "hold" rating and issued a $238.00 target price on shares of Celestica in a research report on Friday, October 3rd. JPMorgan Chase & Co. boosted their target price on Celestica from $225.00 to $295.00 and gave the stock an "overweight" rating in a research report on Monday, September 8th. Wall Street Zen upgraded Celestica from a "hold" rating to a "buy" rating in a research report on Saturday, October 4th. Finally, Canaccord Genuity Group upped their price objective on Celestica from $126.00 to $240.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Celestica currently has an average rating of "Moderate Buy" and an average price target of $249.36.

Celestica Stock Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.44 and a quick ratio of 0.86. The firm has a fifty day moving average price of $234.63 and a two-hundred day moving average price of $166.63. The stock has a market capitalization of $32.55 billion, a PE ratio of 61.26 and a beta of 1.88.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued its quarterly earnings results on Monday, July 28th. The technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.16. Celestica had a return on equity of 28.23% and a net margin of 5.11%.The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The company's revenue for the quarter was up 21.0% on a year-over-year basis. Celestica has set its Q3 2025 guidance at 1.370-1.530 EPS. FY 2025 guidance at 5.500-5.500 EPS. Research analysts expect that Celestica, Inc. will post 4.35 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CLS. Norges Bank bought a new position in Celestica in the second quarter worth approximately $236,069,000. Voya Investment Management LLC grew its stake in Celestica by 362.8% in the first quarter. Voya Investment Management LLC now owns 1,854,085 shares of the technology company's stock worth $146,122,000 after purchasing an additional 1,453,473 shares in the last quarter. Alkeon Capital Management LLC bought a new position in Celestica in the first quarter worth approximately $96,936,000. SRS Investment Management LLC bought a new position in Celestica in the second quarter worth approximately $135,289,000. Finally, Alliancebernstein L.P. grew its stake in Celestica by 405.5% in the first quarter. Alliancebernstein L.P. now owns 731,937 shares of the technology company's stock worth $57,684,000 after purchasing an additional 587,145 shares in the last quarter. Institutional investors own 67.38% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.