Celestica (NYSE:CLS) Trading Up 3.4% - What's Next?

Key Points

• Celestica shares rose 3.4% to about $342.75 in midday trading, with a market capitalization of approximately $39.4 billion.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $437; several firms recently raised their targets to between $430 and $485.
• Celestica exceeded quarterly expectations, reporting $2.54 in EPS versus $2.29 expected and $4.68 billion in revenue, up 62.4% year over year. However, insiders have sold more than $63 million of stock over the past 90 days.

Celestica, Inc. (NYSE:CLS - Get Free Report) TSE: CLS's share price shot up 3.4% during mid-day trading on Monday . The company traded as high as $345.44 and last traded at $342.7450. 2,372,346 shares changed hands during trading, a decline of 2% from the average session volume of 2,412,615 shares. The stock had previously closed at $331.44.

Analysts Set New Price Targets

A number of research firms recently weighed in on CLS. JPMorgan Chase & Co. boosted their price target on shares of Celestica from $445.00 to $485.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. TD Cowen raised shares of Celestica from a "hold" rating to a "buy" rating and raised their target price for the stock from $350.00 to $430.00 in a research note on Wednesday, April 29th. BMO Capital Markets boosted their target price on Celestica from $370.00 to $450.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Wolfe Research upped their price target on Celestica from $425.00 to $475.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. Finally, Royal Bank Of Canada increased their price target on Celestica from $440.00 to $450.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Celestica presently has an average rating of "Moderate Buy" and a consensus target price of $437.00.

Celestica Trading Up 3.4%

The stock has a market capitalization of $39.41 billion, a price-to-earnings ratio of 35.63 and a beta of 2.05. The company's 50-day moving average is $360.70 and its 200-day moving average is $333.66. The company has a quick ratio of 0.68, a current ratio of 1.23 and a debt-to-equity ratio of 0.32.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued its earnings results on Monday, July 27th. The technology company reported $2.54 EPS for the quarter, topping analysts' consensus estimates of $2.29 by $0.25. The company had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $4.30 billion. Celestica had a net margin of 7.16% and a return on equity of 39.96%. Celestica's quarterly revenue was up 62.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.39 earnings per share. Celestica has set its FY 2026 guidance at 11.300-11.300 EPS and its Q3 2026 guidance at 2.880-3.080 EPS. Research analysts anticipate that Celestica, Inc. will post 9.97 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Mandeep Chawla sold 17,000 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $399.65, for a total value of $6,794,050.00. Following the transaction, the chief financial officer directly owned 82,444 shares in the company, valued at approximately $32,948,744.60. This represents a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael Max Wilson sold 4,168 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $333.31, for a total value of $1,389,236.08. Following the transaction, the director owned 24,718 shares of the company's stock, valued at approximately $8,238,756.58. This represents a 14.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 161,168 shares of company stock valued at $63,190,485. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bay Rivers Group lifted its position in Celestica by 0.3% in the second quarter. Bay Rivers Group now owns 14,922 shares of the technology company's stock valued at $5,444,000 after acquiring an additional 47 shares during the last quarter. Arista Wealth Management LLC lifted its stake in Celestica by 31.1% in the second quarter. Arista Wealth Management LLC now owns 4,714 shares of the technology company's stock valued at $1,720,000 after buying an additional 1,117 shares during the last quarter. Tactive Advisors LLC purchased a new stake in Celestica in the second quarter valued at approximately $509,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Celestica by 47.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 3,874 shares of the technology company's stock valued at $1,413,000 after acquiring an additional 1,248 shares during the period. Finally, Sunburst Financial Group LLC boosted its holdings in shares of Celestica by 13.7% in the second quarter. Sunburst Financial Group LLC now owns 830 shares of the technology company's stock valued at $303,000 after acquiring an additional 100 shares during the period. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.

This 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.