Celestica (NYSE:CLS) Shares Climb 2.8% - Here's What Happened

Key Points

• Celestica shares rose 2.8% to approximately $366.46, with about 2.4 million shares traded. The company has a $42.14 billion market capitalization and a beta of 2.04.
• Analysts remain broadly bullish: Celestica has a consensus “Buy” rating and an average price target of $447.19, with several firms recently raising their targets.
• Celestica exceeded quarterly expectations, reporting $2.54 in EPS versus a $2.29 estimate and $4.68 billion in revenue versus $4.30 billion expected. Revenue increased 62.4% year over year, although insiders sold roughly 243,067 shares worth $89.2 million over the past three months.

Celestica, Inc. (NYSE:CLS - Get Free Report) TSE: CLS's stock price traded up 2.8% on Tuesday. The stock traded as high as $375.28 and last traded at $366.4580. Approximately 2,403,944 shares changed hands during mid-day trading, a decline of 1% from the average session volume of 2,429,043 shares. The stock had previously closed at $356.53.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Canadian Imperial Bank of Commerce upped their price target on shares of Celestica from $480.00 to $500.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. lifted their price objective on shares of Celestica from $445.00 to $485.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. TD set a $430.00 price objective on shares of Celestica and gave the stock a "buy" rating in a research note on Wednesday, September 16th. Barclays dropped their target price on shares of Celestica from $430.00 to $406.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. Finally, TD Cowen reiterated a "buy" rating on shares of Celestica in a research note on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating and twenty-two have given a Buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $447.19.

Celestica Stock Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.68. The stock's 50-day simple moving average is $326.99 and its 200 day simple moving average is $343.01. The stock has a market capitalization of $42.14 billion, a P/E ratio of 38.09 and a beta of 2.04.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last released its quarterly earnings data on Monday, July 27th. The technology company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.29 by $0.25. The firm 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%. The company's quarterly revenue was up 62.4% on a year-over-year basis. During the same period in the previous 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. Research analysts expect that Celestica, Inc. will post 10.71 EPS for the current fiscal year.

Insider Buying and Selling at Celestica

In other Celestica news, President Todd Cooper sold 20,118 shares of the 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 transaction, the president directly owned 73,252 shares of the company's stock, valued at $26,370,720. This represents a 21.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert Mionis sold 98,453 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $368.99, for a total transaction of $36,328,172.47. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 243,067 shares of company stock valued at $89,200,967 in the last three months. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLS. Washington Trust Advisors Inc. bought a new stake in shares of Celestica in the second quarter valued at about $28,000. Sittner & Nelson LLC acquired a new position in shares of Celestica during the 4th quarter worth approximately $31,000. Ascentis Independent Advisors acquired a new position in shares of Celestica during the 1st quarter worth approximately $29,000. Harbor Investment Advisory LLC bought a new position in shares of Celestica during the second quarter worth approximately $58,000. Finally, Continuum Advisory LLC acquired a new stake in shares of Celestica in the second quarter valued at approximately $62,000. 67.38% of the stock is owned by institutional investors and hedge funds.

Celestica Company 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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