Celestica (NYSE:CLS) Stock Price Down 2.7% - Here's What Happened

Key Points

• Celestica shares fell 2.7% to approximately $314.74 in heavy trading, with volume 57% above the daily average.
• Analysts remain broadly bullish: 23 rate the stock Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $450.50.
• Celestica reported strong quarterly results, with EPS of $2.54 versus the $2.29 estimate and revenue up 62.4% year over year to $4.68 billion. However, insiders sold roughly $89.2 million of stock during the last quarter.

Celestica, Inc. (NYSE:CLS - Get Free Report) TSE: CLS was down 2.7% during trading on Thursday. The company traded as low as $296.12 and last traded at $314.7420. Approximately 3,791,636 shares were traded during mid-day trading, an increase of 57% from the average daily volume of 2,408,280 shares. The stock had previously closed at $323.32.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CLS shares. Canadian Imperial Bank of Commerce upped their price objective 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. Sanford C. Bernstein reiterated an "outperform" rating on shares of Celestica in a research report on Thursday. 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 note on Wednesday, July 29th. Barclays lowered their price objective on shares of Celestica from $430.00 to $406.00 and set an "overweight" rating for the company in a research report on Friday, August 7th. Finally, Weiss Ratings cut Celestica from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, August 13th. 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 company presently has an average rating of "Moderate Buy" and a consensus target price of $450.50.

Celestica Price Performance

The firm has a market cap of $36.19 billion, a P/E ratio of 32.72 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. The business has a 50-day moving average of $333.08 and a two-hundred day moving average of $350.35.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued its earnings results on Monday, July 27th. The technology company reported $2.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.29 by $0.25. Celestica had a return on equity of 39.96% and a net margin of 7.16%. The business had revenue of $4.68 billion during the quarter, compared to analysts' expectations of $4.30 billion. During the same quarter in the prior year, the firm earned $1.39 EPS. The business's revenue for the quarter was up 62.4% compared to the same quarter last year. 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, sell-side analysts anticipate that Celestica, Inc. will post 10.71 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Robert Mionis sold 98,453 shares of Celestica stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $368.99, for a total transaction of $36,328,172.47. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mandeep Chawla sold 16,117 shares of the business'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 transaction of $5,952,330.44. Following the sale, the chief financial officer directly owned 65,444 shares in the company, valued at $24,169,778.08. The trade was a 19.76% decrease in their ownership of the stock. 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.

Hedge Funds Weigh In On Celestica

Large investors have recently modified their holdings of the business. Legacy Wealth Managment LLC ID grew its position in shares of Celestica by 14.4% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 223 shares of the technology company's stock valued at $63,000 after buying an additional 28 shares during the last quarter. Capital Planning LLC raised its position in shares of Celestica by 3.2% during the first quarter. Capital Planning LLC now owns 1,025 shares of the technology company's stock worth $289,000 after acquiring an additional 32 shares during the last quarter. PCB Capital LLC raised its position in shares of Celestica by 3.5% during the first quarter. PCB Capital LLC now owns 995 shares of the technology company's stock worth $280,000 after acquiring an additional 34 shares during the last quarter. XML Financial LLC lifted its stake in shares of Celestica by 1.5% in the second quarter. XML Financial LLC now owns 2,640 shares of the technology company's stock worth $963,000 after acquiring an additional 40 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Celestica by 0.9% in the second quarter. Sequoia Financial Advisors LLC now owns 4,363 shares of the technology company's stock worth $1,592,000 after acquiring an additional 40 shares during the period. 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.