Celestica (NYSE:CLS) Shares Climb 3% – Here’s Why

Celestica, Inc. (NYSE:CLS) (TSE:CLS) shares rose 3% during trading on Tuesday. The stock traded as high as $358.08 and last traded at $357.7540. 2,009,505 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 2,398,718 shares. The stock had previously closed at $347.50.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CLS. Weiss Ratings cut Celestica from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th. FBN Securities started coverage on Celestica in a research report on Tuesday, September 15th. They set an “outperform” rating and a $375.00 target price on the stock. JPMorgan Chase & Co. increased their target price on Celestica from $445.00 to $485.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Bank of America reissued a “buy” rating on shares of Celestica in a research report on Wednesday, July 29th. Finally, TD Cowen restated a “buy” rating on shares of Celestica in a research note on Wednesday, September 16th. Twenty-three investment 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $450.50.

Celestica Stock Up 3.0%

The company has a market cap of $41.13 billion, a P/E ratio of 37.19 and a beta of 2.01. 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 fifty day moving average price of $334.16 and a two-hundred day moving average price of $349.60.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Monday, July 27th. The technology company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.25. The business had revenue of $4.68 billion during the quarter, compared to the consensus estimate of $4.30 billion. Celestica had a return on equity of 39.96% and a net margin of 7.16%. Celestica’s revenue was up 62.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $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. On average, research analysts expect that Celestica, Inc. will post 10.71 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Mandeep Chawla sold 16,117 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $24,169,778.08. The trade was a 19.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Todd C. Cooper sold 20,118 shares of the company’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $360.00, for a total transaction of $7,242,480.00. Following the completion of the sale, the president directly owned 73,252 shares of the company’s stock, valued at $26,370,720. The trade was a 21.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 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 insiders.

Institutional Trading of Celestica

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