Celestica (NYSE:CLS) Stock Jumps 3.7% - Here's Why

Key Points

• Celestica shares rose 3.7% to approximately $386.97 in mid-day trading, with about 2.23 million shares changing hands.
• Recent analyst sentiment remains positive overall: 23 analysts rate the stock a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and a $450.50 price target.
• Celestica reported quarterly EPS of $2.54 and revenue of $4.68 billion, beating expectations, while revenue increased 62.4% year over year. However, insiders sold roughly $89.2 million of stock during the last quarter.

Shares of Celestica, Inc. (NYSE:CLS - Get Free Report) TSE: CLS shot up 3.7% during mid-day trading on Friday. The company traded as high as $391.50 and last traded at $386.9710. Approximately 2,230,793 shares changed hands during trading, a decline of 8% from the average session volume of 2,429,096 shares. The stock had previously closed at $373.09.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wall Street Zen cut Celestica from a "buy" rating to a "hold" rating in a report on Sunday, September 6th. Barclays reduced their target price on Celestica from $430.00 to $406.00 and set an "overweight" rating for the company in a report on Friday, August 7th. TD set a $430.00 price target on Celestica and gave the company a "buy" rating in a research report on Wednesday, September 16th. UBS Group raised shares of Celestica from a "neutral" rating to a "buy" rating and increased their price target for the stock from $410.00 to $430.00 in a report on Monday, August 24th. Finally, FBN Securities assumed coverage on shares of Celestica in a research report on Tuesday, September 15th. They issued an "outperform" rating and a $375.00 price objective for the company. Twenty-three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $450.50.

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 has a market cap of $44.49 billion, a PE ratio of 40.23 and a beta of 2.01. The business has a 50 day moving average price of $328.81 and a two-hundred day moving average price of $345.17.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last released 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 for 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 company's revenue for the quarter was up 62.4% compared to the same quarter last year. During the same quarter 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. As a group, equities research analysts forecast that Celestica, Inc. will post 10.71 EPS for the current fiscal year.

Insider Buying and Selling

In other Celestica news, CEO Robert Mionis sold 23,396 shares of the stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $364.22, for a total value of $8,521,291.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mandeep Chawla sold 16,117 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $369.32, for a total transaction of $5,952,330.44. Following the sale, the chief financial officer owned 65,444 shares in the company, valued at approximately $24,169,778.08. This trade represents a 19.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 243,067 shares of company stock valued at $89,200,967 over the last quarter. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Celestica

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cibc World Market Inc. bought a new stake in Celestica during the 2nd quarter valued at about $757,811,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Celestica in the second quarter worth approximately $674,199,000. Bank of America Corp DE purchased a new stake in shares of Celestica during the second quarter valued at approximately $444,899,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Celestica during the second quarter valued at approximately $351,717,000. Finally, Legal & General Group Plc bought a new stake in shares of Celestica during the second quarter valued at approximately $333,588,000. Hedge funds and other institutional investors own 67.38% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.