Celestica (NYSE:CLS) Shares Down 1.2% - Here's What Happened

Key Points

• Celestica shares fell 1.2% in mid-day trading to approximately $382.51, while trading volume was 54% below the stock’s average daily volume.
• Analysts remain broadly positive, with 23 Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $450.50.
• The company recently 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 sold roughly $89.2 million of stock over the past 90 days.

Celestica, Inc. (NYSE:CLS - Get Free Report) TSE: CLS shares were down 1.2% during mid-day trading on Monday. The stock traded as low as $375.41 and last traded at $382.5050. 1,118,234 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 2,423,169 shares. The stock had previously closed at $387.32.

Analyst Upgrades and Downgrades

CLS has been the topic of a number of research reports. Royal Bank Of Canada set a $450.00 target price on shares of Celestica and gave the stock an "outperform" rating in a research note on Wednesday, August 26th. FBN Securities assumed coverage on shares of Celestica in a research report on Tuesday, September 15th. They set an "outperform" rating and a $375.00 price objective on the stock. Wall Street Zen lowered Celestica from a "buy" rating to a "hold" rating in a research report on Sunday, September 6th. Stifel Nicolaus set a $500.00 price target on Celestica in a research note on Tuesday, July 28th. Finally, Barclays cut their price target on Celestica from $430.00 to $406.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. Twenty-three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $450.50.

Celestica Price Performance

The stock has a market capitalization of $43.98 billion, a P/E ratio of 39.76 and a beta of 2.01. The business's 50 day simple moving average is $330.45 and its two-hundred day simple moving average is $345.99. 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 quarterly earnings data on Monday, July 27th. The technology company reported $2.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 7.16% and a return on equity of 39.96%. The business's revenue was up 62.4% on a year-over-year basis. During the same period last 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. As a group, sell-side analysts forecast that Celestica, Inc. will post 10.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mandeep Chawla sold 16,117 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $369.32, for a total value of $5,952,330.44. Following the transaction, the chief financial officer owned 65,444 shares in the company, valued at $24,169,778.08. This trade represents a 19.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Todd C. Cooper sold 20,118 shares of the firm's stock in a transaction that occurred on 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 transaction, the president owned 73,252 shares in the company, valued at $26,370,720. This represents a 21.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 243,067 shares of company stock valued at $89,200,967. Corporate insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Celestica

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new position in shares of Celestica in the 1st quarter worth approximately $68,952,000. Quantinno Capital Management LP grew its holdings in shares of Celestica by 73.7% in the first quarter. Quantinno Capital Management LP now owns 23,954 shares of the technology company's stock valued at $6,746,000 after acquiring an additional 10,164 shares in the last quarter. K.J. Harrison & Partners Inc purchased a new stake in shares of Celestica during the second quarter valued at approximately $1,092,000. Ninepoint Partners LP purchased a new stake in shares of Celestica during the second quarter valued at approximately $2,880,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Celestica by 1.9% during the first quarter. The Manufacturers Life Insurance Company now owns 959,586 shares of the technology company's stock worth $270,416,000 after acquiring an additional 18,105 shares during the period. 67.38% of the stock is owned by hedge funds and other institutional investors.

About Celestica

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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