Celestica (NYSE:CLS) Shares Down 9.5% – Here’s Why

Celestica, Inc. (NYSE:CLS) (TSE:CLS)’s share price dropped 9.5% on Wednesday. The company traded as low as $320.50 and last traded at $323.3220. 2,851,939 shares changed hands during mid-day trading, an increase of 19% from the average daily volume of 2,401,143 shares. The stock had previously closed at $357.44.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada set a $450.00 price target on shares of Celestica and gave the stock an “outperform” rating in a report on Wednesday, August 26th. Stifel Nicolaus set a $500.00 price objective on Celestica in a research report on Tuesday, July 28th. Barclays reduced their price objective on Celestica from $430.00 to $406.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. JPMorgan Chase & Co. upped 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. Finally, Scotiabank assumed coverage on Celestica in a research note on Tuesday, August 11th. They set a “sector outperform” rating and a $500.00 price target on the stock. Twenty-three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and a consensus target price of $450.50.

Celestica Stock Performance

The company has a 50-day moving average of $333.08 and a 200-day moving average of $350.59. The firm has a market capitalization of $34.82 billion, a P/E ratio of 31.40 and a beta of 2.01. The company has a current ratio of 1.23, a quick ratio of 0.68 and a debt-to-equity ratio of 0.32.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Monday, July 27th. The technology company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.25. Celestica had a return on equity of 39.96% and a net margin of 7.16%. 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 previous year, the firm earned $1.39 earnings per share. The firm’s quarterly revenue was up 62.4% on a year-over-year basis. 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, equities analysts anticipate that Celestica, Inc. will post 10.71 earnings per share for the current fiscal year.

Insider Activity at Celestica

In other news, President Todd C. Cooper sold 20,118 shares of the company’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $360.00, for a total transaction of $7,242,480.00. Following the transaction, the president owned 73,252 shares in the company, valued at approximately $26,370,720. This represents a 21.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Mionis sold 23,396 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $364.22, for a total value of $8,521,291.12. The SEC filing for this sale provides additional information. Insiders have sold a total of 243,067 shares of company stock worth $89,200,967 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Celestica

Institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC purchased a new stake in shares of Celestica in the first quarter valued at about $68,952,000. K.J. Harrison & Partners Inc purchased a new position in Celestica during the second quarter worth about $1,092,000. Quantinno Capital Management LP boosted its holdings in Celestica by 73.7% during the first quarter. Quantinno Capital Management LP now owns 23,954 shares of the technology company’s stock worth $6,746,000 after purchasing an additional 10,164 shares during the last quarter. Ferguson Wellman Capital Management Inc. bought a new stake in Celestica in the 3rd quarter worth about $27,821,000. Finally, Ninepoint Partners LP bought a new stake in Celestica in the 2nd quarter worth about $2,880,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Company Profile

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.