Celestica (NYSE:CLS) Trading Down 7% – Here’s What Happened

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) dropped 7% during trading on Thursday . The stock traded as low as $328.50 and last traded at $336.3460. 1,805,216 shares traded hands during trading, a decline of 24% from the average session volume of 2,383,670 shares. The stock had previously closed at $361.62.

Analysts Set New Price Targets

CLS has been the topic of a number of research analyst reports. TD Cowen upgraded Celestica from a “hold” rating to a “buy” rating and boosted their price target for the stock from $350.00 to $430.00 in a research note on Wednesday, April 29th. Royal Bank Of Canada increased their price objective on Celestica from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. The Goldman Sachs Group reissued a “buy” rating and issued a $475.00 price target on shares of Celestica in a report on Tuesday, April 28th. TD Securities raised shares of Celestica from a “hold” rating to a “buy” rating and set a $430.00 price target on the stock in a research note on Wednesday, April 29th. Finally, TD upped their target price on shares of Celestica from $330.00 to $350.00 and gave the stock a “hold” rating in a report on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $427.42.

Celestica Trading Down 7.0%

The business’s 50 day moving average is $380.88 and its 200 day moving average is $328.01. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 0.73. The stock has a market cap of $38.67 billion, a price-to-earnings ratio of 40.67, a P/E/G ratio of 0.85 and a beta of 2.05.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Monday, April 27th. The technology company reported $2.16 EPS for the quarter, topping the consensus estimate of $2.08 by $0.08. The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.97 billion. Celestica had a return on equity of 36.91% and a net margin of 6.95%.The firm’s revenue was up 52.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 earnings per share. Celestica has set its FY 2026 guidance at 10.150-10.150 EPS and its Q2 2026 guidance at 2.140-2.340 EPS. As a group, equities analysts expect that Celestica, Inc. will post 9.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Mandeep Chawla sold 17,000 shares of the company’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 owned 82,444 shares of the company’s stock, valued at approximately $32,948,744.60. This represents a 17.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Max Wilson sold 4,168 shares of Celestica stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $333.31, for a total value of $1,389,236.08. Following the sale, the director owned 24,718 shares of the company’s stock, valued at approximately $8,238,756.58. This represents a 14.43% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 161,168 shares of company stock worth $63,190,485. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Celestica

Hedge funds have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Celestica during the 4th quarter worth about $28,000. Ascentis Independent Advisors purchased a new position in Celestica in the 1st quarter valued at about $29,000. Swiss RE Ltd. purchased a new position in Celestica in the fourth quarter valued at about $29,000. Cullen Frost Bankers Inc. bought a new stake in shares of Celestica in the fourth quarter worth $30,000. Finally, Sittner & Nelson LLC acquired a new stake in shares of Celestica in the 4th quarter valued at about $31,000. 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.