Celestica (NYSE:CLS) Trading 9.3% Higher – Here’s What Happened

Celestica, Inc. (NYSE:CLS) (TSE:CLS)’s share price rose 9.3% during trading on Wednesday . The company traded as high as $339.74 and last traded at $339.19. Approximately 3,173,437 shares changed hands during trading, an increase of 29% from the average daily volume of 2,460,979 shares. The stock had previously closed at $310.38.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CLS. Citigroup lifted their target price on shares of Celestica from $338.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Wolfe Research increased their price target on shares of Celestica from $425.00 to $475.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. raised their price objective on shares of Celestica from $445.00 to $485.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Susquehanna lifted their price objective on Celestica from $460.00 to $510.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Finally, BWS Financial reiterated a “buy” rating on shares of Celestica in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $438.86.

Celestica Stock Up 9.3%

The company has a market capitalization of $39.00 billion, a PE ratio of 35.26 and a beta of 2.06. The firm’s 50-day simple moving average is $352.78 and its 200 day simple moving average is $334.63. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.68 and a current ratio of 1.23.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Monday, July 27th. The technology company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.25. The business 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 business’s revenue for the quarter was up 62.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.39 EPS. 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 9.97 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Michael Max Wilson sold 4,168 shares of Celestica stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $333.31, for a total transaction of $1,389,236.08. Following the completion of the sale, the director directly owned 24,718 shares in the company, valued at approximately $8,238,756.58. This trade represents a 14.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mandeep Chawla sold 17,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $399.65, for a total value of $6,794,050.00. Following the sale, the chief financial officer directly owned 82,444 shares in the company, valued at $32,948,744.60. This trade represents a 17.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 337,225 shares of company stock worth $128,112,965. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Celestica

Several hedge funds have recently bought and sold shares of CLS. Legacy Wealth Managment LLC ID lifted its holdings in shares of Celestica by 14.4% in the first 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 period. Capital Planning LLC boosted its stake in Celestica by 3.2% during the first quarter. Capital Planning LLC now owns 1,025 shares of the technology company’s stock valued at $289,000 after buying an additional 32 shares in the last quarter. PCB Capital LLC grew its holdings in 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 period. Oxinas Partners LLC grew its holdings in Celestica by 1.4% during the fourth quarter. Oxinas Partners LLC now owns 2,958 shares of the technology company’s stock worth $874,000 after acquiring an additional 40 shares during the period. Finally, Avantax Planning Partners Inc. raised its position in Celestica by 2.7% in the fourth quarter. Avantax Planning Partners Inc. now owns 1,528 shares of the technology company’s stock worth $452,000 after acquiring an additional 40 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Celestica Company Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.