Celestica (NYSE:CLS) Stock Price Down 2% – Here’s Why

Celestica, Inc. (NYSE:CLS) (TSE:CLS)’s stock price was down 2% on Friday . The stock traded as low as $292.64 and last traded at $296.03. 1,356,680 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 2,462,996 shares. The stock had previously closed at $302.00.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CLS shares. UBS Group reiterated a “neutral” rating and set a $410.00 price target on shares of Celestica in a research note 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. BWS Financial reaffirmed a “buy” rating on shares of Celestica in a report on Tuesday, July 28th. Barclays dropped their target price on Celestica from $430.00 to $406.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Finally, Citigroup increased their target price on Celestica from $338.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $438.86.

Celestica Price Performance

The stock has a market cap of $34.04 billion, a price-to-earnings ratio of 30.77 and a beta of 2.06. The company’s 50 day moving average is $341.15 and its 200 day moving average is $335.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.68.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Monday, July 27th. The technology company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.25. Celestica had a net margin of 7.16% and a return on equity of 39.96%. The company had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the business posted $1.39 earnings per share. The firm’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. Research analysts forecast that Celestica, Inc. will post 10.15 earnings per share for the current fiscal year.

Insider Activity at Celestica

In related news, CFO Mandeep Chawla sold 16,117 shares of the company’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 value of $5,952,330.44. Following the sale, the chief financial officer owned 65,444 shares in the company, valued at $24,169,778.08. This represents a 19.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Robert Mionis sold 23,496 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $362.39, for a total value of $8,514,715.44. Following the completion of the transaction, the chief executive officer directly owned 23,396 shares of the company’s stock, valued at $8,478,476.44. The trade was a 50.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 356,553 shares of company stock worth $135,238,444 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Celestica

Several large investors have recently bought and sold shares of CLS. Renaissance Technologies LLC acquired a new position in Celestica during the first quarter worth about $68,952,000. CIBC Asset Management Inc grew its position in shares of Celestica by 7.7% in the fourth quarter. CIBC Asset Management Inc now owns 436,922 shares of the technology company’s stock valued at $129,499,000 after purchasing an additional 31,086 shares during the last quarter. Norges Bank acquired a new stake in shares of Celestica in the fourth quarter valued at approximately $456,511,000. Marietta Investment Partners LLC acquired a new stake in shares of Celestica in the fourth quarter valued at approximately $1,273,000. Finally, BW Gestao de Investimentos Ltda. increased its stake in shares of Celestica by 29.9% during the 4th quarter. BW Gestao de Investimentos Ltda. now owns 31,179 shares of the technology company’s stock worth $9,217,000 after purchasing an additional 7,179 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.