Triasima Portfolio Management inc. Sells 16,516 Shares of Celestica, Inc. $CLS

Key Points

• Triasima Portfolio Management cut its Celestica stake by 51.3%, selling 16,516 shares and retaining 15,683 shares valued at approximately $5.7 million. Institutional investors collectively own 67.38% of the company.
• Analysts remain broadly positive, with 23 Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and a $450.50 price target.
• Celestica reported stronger-than-expected quarterly results, including $2.54 in earnings per share versus a $2.29 consensus estimate and 62.4% year-over-year revenue growth. Meanwhile, company insiders sold 243,067 shares worth about $89.2 million during the quarter.

Triasima Portfolio Management inc. lessened its holdings in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 51.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,683 shares of the technology company's stock after selling 16,516 shares during the period. Triasima Portfolio Management inc.'s holdings in Celestica were worth $5,688,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Cibc World Market Inc. acquired a new stake in shares of Celestica in the second quarter valued at approximately $757,811,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Celestica in the second quarter valued at approximately $674,199,000. Bank of America Corp DE acquired a new stake in Celestica during the second quarter worth approximately $444,899,000. The Manufacturers Life Insurance Company acquired a new stake in Celestica during the second quarter worth approximately $351,717,000. Finally, Legal & General Group Plc acquired a new stake in Celestica during the second quarter worth approximately $333,588,000. 67.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CLS shares. FBN Securities assumed coverage on Celestica in a research note on Tuesday, September 15th. They set an "outperform" rating and a $375.00 price objective on the stock. Weiss Ratings downgraded Celestica from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, August 13th. Wolfe Research upped their target price on Celestica from $425.00 to $475.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. Stifel Nicolaus set a $500.00 target price on Celestica in a report on Tuesday, July 28th. Finally, Barclays decreased their price target on Celestica from $430.00 to $406.00 and set an "overweight" rating on the stock in a research report on Friday, August 7th. Twenty-three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $450.50.

Celestica Price Performance

Shares of NYSE:CLS opened at $314.74 on Friday. The firm has a 50 day moving average of $333.08 and a 200-day moving average of $350.59. The stock has a market capitalization of $36.19 billion, a PE ratio of 42.54 and a beta of 2.01. The company has a current ratio of 1.23, a quick ratio of 0.68 and a debt-to-equity ratio of 0.32. Celestica, Inc. has a 12 month low of $244.51 and a 12 month high of $474.02.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last released its 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. The firm had revenue of $4.68 billion during the quarter, compared to analysts' expectations of $4.30 billion. Celestica had a return on equity of 39.96% and a net margin of 7.16%. The company's quarterly revenue was up 62.4% on a year-over-year basis. During the same period in the prior year, the company 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. On average, equities research analysts predict that Celestica, Inc. will post 10.71 EPS for the current fiscal year.

Insider Transactions at Celestica

In related news, CEO Robert Mionis sold 98,453 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $368.99, for a total value of $36,328,172.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Todd C. Cooper sold 20,118 shares of the firm's stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $360.00, for a total value of $7,242,480.00. Following the completion of the sale, the president directly owned 73,252 shares in the company, valued at $26,370,720. This trade represents a 21.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 243,067 shares of company stock valued at $89,200,967. Corporate insiders own 1.10% of the company's stock.

Celestica 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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