Celestica, Inc. $CLS Shares Purchased by CIBC Asset Management Inc

Key Points

• CIBC Asset Management increased its Celestica stake by 7.7% in the fourth quarter, owning 436,922 shares worth about $129.5 million at quarter-end.
• Celestica has drawn a mostly bullish analyst outlook, with firms including Barclays and BMO raising price targets; the stock now carries a Moderate Buy consensus and a $427.42 average price target.
• The company reported strong quarterly results, posting $2.16 EPS versus the $2.08 estimate and 52.8% year-over-year revenue growth, while shares recently traded near their 12-month high at $471.63.

CIBC Asset Management Inc increased its stake in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 7.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 436,922 shares of the technology company's stock after purchasing an additional 31,086 shares during the quarter. CIBC Asset Management Inc owned 0.38% of Celestica worth $129,499,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pinney & Scofield Inc. grew its stake in Celestica by 20.0% during the 3rd quarter. Pinney & Scofield Inc. now owns 180 shares of the technology company's stock worth $44,000 after purchasing an additional 30 shares in the last quarter. LeConte Wealth Management LLC grew its stake in Celestica by 3.5% during the 4th quarter. LeConte Wealth Management LLC now owns 1,001 shares of the technology company's stock worth $296,000 after purchasing an additional 34 shares in the last quarter. Terra Nova Asset Management LLC grew its stake in Celestica by 2.3% during the 4th quarter. Terra Nova Asset Management LLC now owns 1,686 shares of the technology company's stock worth $498,000 after purchasing an additional 38 shares in the last quarter. Oxinas Partners LLC grew its stake in Celestica by 1.4% during the 4th quarter. Oxinas Partners LLC now owns 2,958 shares of the technology company's stock worth $874,000 after purchasing an additional 40 shares in the last quarter. Finally, Avantax Planning Partners Inc. grew its stake in Celestica by 2.7% during the 4th quarter. Avantax Planning Partners Inc. now owns 1,528 shares of the technology company's stock worth $452,000 after purchasing an additional 40 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on CLS. Barclays boosted their price target on shares of Celestica from $391.00 to $441.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Zacks Research cut shares of Celestica from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating and set a $480.00 price target on shares of Celestica in a report on Wednesday, April 29th. Weiss Ratings upgraded shares of Celestica from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. Finally, BMO Capital Markets upped their price objective on Celestica from $370.00 to $450.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $427.42.

Celestica Trading Up 10.6%

Shares of Celestica stock opened at $471.63 on Wednesday. The company has a fifty day simple moving average of $353.50 and a 200-day simple moving average of $318.46. Celestica, Inc. has a 12-month low of $116.95 and a 12-month high of $474.03. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 0.36. The stock has a market cap of $54.22 billion, a price-to-earnings ratio of 57.03, a PEG ratio of 0.99 and a beta of 2.02.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued its earnings results on Monday, April 27th. The technology company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.08. Celestica had a net margin of 6.95% and a return on equity of 36.91%. The business had revenue of $3.96 billion during the quarter, compared to analysts' expectations of $3.97 billion. During the same quarter in the prior year, the business posted $1.20 EPS. The company's revenue for the quarter was up 52.8% on a year-over-year basis. Celestica has set its FY 2026 guidance at 10.150-10.150 EPS and its Q2 2026 guidance at 2.140-2.340 EPS. On average, equities analysts forecast that Celestica, Inc. will post 9.5 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael Max Wilson sold 4,168 shares of the company's stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $333.31, for a total value of $1,389,236.08. Following the completion of the transaction, the director owned 24,718 shares in the company, valued at approximately $8,238,756.58. This represents a 14.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.10% of the company's stock.

Celestica Company Profile

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.

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