Celestica, Inc. $CLS Stock Position Trimmed by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its stake in Celestica, Inc. by 25.5% during the first quarter, now holding approximately 384,992 shares worth around $30.34 million.
• Celestica reported quarterly earnings of $1.39 EPS, surpassing analyst estimates, with revenue of $2.89 billion, a 21% increase year-over-year.
• Analysts have mixed opinions, with Citigroup and Barclays raising their target prices to $212 and $220 respectively, while Argus lowered its target to $120.

Raymond James Financial Inc. lessened its holdings in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 25.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 384,992 shares of the technology company's stock after selling 131,636 shares during the period. Raymond James Financial Inc. owned about 0.33% of Celestica worth $30,341,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CLS. Polar Capital Holdings Plc increased its stake in Celestica by 822.6% during the 4th quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company's stock worth $148,416,000 after buying an additional 1,433,681 shares during the period. Balyasny Asset Management L.P. increased its stake in Celestica by 799.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 802,227 shares of the technology company's stock worth $74,044,000 after buying an additional 916,991 shares during the period. BNP Paribas Financial Markets purchased a new stake in Celestica during the 4th quarter worth $51,043,000. CloudAlpha Capital Management Limited Hong Kong purchased a new position in Celestica in the first quarter valued at about $30,156,000. Finally, Wellington Management Group LLP purchased a new position in Celestica in the fourth quarter valued at about $26,965,000. Hedge funds and other institutional investors own 67.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CLS shares. Canaccord Genuity Group increased their price target on Celestica from $126.00 to $240.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. BNP Paribas raised Celestica to a "strong-buy" rating in a report on Wednesday, June 11th. UBS Group reissued a "neutral" rating and set a $208.00 price objective (up from $101.00) on shares of Celestica in a report on Wednesday, July 30th. CICC Research initiated coverage on shares of Celestica in a report on Tuesday, August 19th. They set an "outperform" rating for the company. Finally, BMO Capital Markets reissued an "outperform" rating and set a $130.00 price objective (up from $118.00) on shares of Celestica in a report on Thursday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $168.92.

Celestica Stock Performance

Shares of NYSE CLS traded down $17.21 during midday trading on Friday, hitting $195.12. The company's stock had a trading volume of 3,928,552 shares, compared to its average volume of 2,909,284. Celestica, Inc. has a 1-year low of $40.65 and a 1-year high of $218.80. The firm's fifty day moving average price is $177.19 and its 200-day moving average price is $127.57. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.44. The firm has a market cap of $22.45 billion, a P/E ratio of 42.23 and a beta of 1.80.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted its quarterly earnings results on Monday, July 28th. The technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.23 by $0.16. Celestica had a net margin of 5.11% and a return on equity of 28.23%. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same period in the previous year, the business posted $0.91 EPS. The company's quarterly revenue 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. On average, sell-side analysts forecast that Celestica, Inc. will post 4.35 EPS for the current fiscal year.

About Celestica

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.