Celestica (NYSE:CLS) Trading Up 2.1% - Here's Why

Key Points

• Celestica shares rose 2.1% to approximately $323.47 in mid-day trading, despite volume running 30% below the average session level.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $440.50; recent targets range from $375 to $485.
• The company exceeded quarterly expectations with EPS of $2.54 versus $2.29 expected and revenue of $4.68 billion, up 62.4% year over year. However, insiders sold roughly $73.4 million worth of shares during the last quarter.

Celestica, Inc. (NYSE:CLS - Get Free Report) TSE: CLS shares rose 2.1% during mid-day trading on Wednesday . The stock traded as high as $329.96 and last traded at $323.4670. Approximately 1,691,627 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 2,433,096 shares. The stock had previously closed at $316.81.

Wall Street Analysts Forecast Growth

CLS has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of Celestica from $430.00 to $406.00 and set an "overweight" rating for the company in a report on Friday, August 7th. FBN Securities initiated coverage on shares of Celestica in a research report on Tuesday. They set an "outperform" rating and a $375.00 price target on the stock. Wall Street Zen lowered Celestica from a "buy" rating to a "hold" rating in a report on Sunday, September 6th. Wolfe Research upped their price objective on Celestica from $425.00 to $475.00 and gave the company an "outperform" rating in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. upped their price objective on Celestica from $445.00 to $485.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating and twenty-three have assigned a Buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $440.50.

Celestica Stock Up 2.1%

The stock's fifty day simple moving average is $324.30 and its two-hundred day simple moving average is $337.78. 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 company has a market capitalization of $37.19 billion, a price-to-earnings ratio of 33.62 and a beta of 2.04.

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

Insider Buying and Selling

In other Celestica news, CEO Robert Mionis sold 23,496 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $362.39, for a total value of $8,514,715.44. Following the sale, the chief executive officer directly owned 23,396 shares of the company's stock, valued at $8,478,476.44. This trade represents a 50.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 transaction, the chief financial officer directly owned 65,444 shares of the company's stock, valued at approximately $24,169,778.08. This trade represents a 19.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 199,553 shares of company stock worth $73,437,196 over the last quarter. Insiders own 1.10% of the company's stock.

Institutional Trading of Celestica

Several hedge funds have recently bought and sold shares of CLS. JPMorgan Chase & Co. increased its position in Celestica by 24.8% in the 4th quarter. JPMorgan Chase & Co. now owns 4,017,623 shares of the technology company's stock valued at $1,187,650,000 after acquiring an additional 798,782 shares during the period. Cibc World Market Inc. bought a new position in shares of Celestica in the second quarter worth $757,811,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Celestica in the second quarter worth $674,199,000. Franklin Resources Inc. increased its holdings in shares of Celestica by 18.6% during the fourth quarter. Franklin Resources Inc. now owns 2,278,214 shares of the technology company's stock valued at $673,471,000 after purchasing an additional 356,797 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Celestica by 25.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,637,367 shares of the technology company's stock valued at $484,022,000 after purchasing an additional 332,641 shares during the period. 67.38% of the stock is currently owned by institutional investors.

Celestica Company Profile

Celestica Inc NYSE: CLS is a global provider of design, manufacturing, and supply chain solutions for technology companies and other businesses. The company helps customers develop, manufacture, and support complex electronic products and systems, offering services that span product design and engineering, prototyping, printed circuit board assembly, systems integration, testing, supply chain management, and after-market support.

Celestica serves customers across several markets, including communications and cloud infrastructure, aerospace and defense, industrial technology, health technology, and capital equipment.

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.