Celestica (NYSE:CLS) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Celestica (NYSE:CLS) (TSE:CLS) from a buy rating to a hold rating in a research note issued to investors on Sunday morning,Wall Street Zen reports.

A number of other brokerages have also recently commented on CLS. Zacks Research raised Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 26th. UBS Group raised Celestica from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $410.00 to $430.00 in a report on Monday, August 24th. Canadian Imperial Bank of Commerce boosted their price objective on Celestica from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. upped their price objective on shares of Celestica from $445.00 to $485.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Finally, Barclays cut their target price on shares of Celestica from $430.00 to $406.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $439.81.

Celestica Trading Up 0.2%

Shares of CLS stock opened at $312.84 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The firm has a market cap of $35.97 billion, a P/E ratio of 32.52 and a beta of 2.04. The company has a 50 day moving average of $327.47 and a 200-day moving average of $336.16. Celestica has a 12-month low of $227.00 and a 12-month high of $474.02.

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, beating the consensus estimate of $2.29 by $0.25. Celestica had a return on equity of 39.96% and a net margin of 7.16%.The business had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the business earned $1.39 earnings per share. Celestica’s revenue for the quarter 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. Sell-side analysts anticipate that Celestica will post 10.71 earnings per share for the current year.

Insider Buying and Selling at Celestica

In related news, CFO Mandeep Chawla sold 17,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $399.65, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert Mionis sold 98,453 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $368.99, for a total value of $36,328,172.47. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 356,553 shares of company stock valued at $135,238,444. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Celestica

Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new stake in Celestica in the first quarter worth $68,952,000. CIBC Asset Management Inc lifted its position in Celestica by 7.7% during the fourth quarter. CIBC Asset Management Inc now owns 436,922 shares of the technology company’s stock valued at $129,499,000 after buying an additional 31,086 shares during the period. Norges Bank purchased a new position in Celestica during the fourth quarter valued at $456,511,000. Marietta Investment Partners LLC bought a new stake in shares of Celestica during the 4th quarter valued at $1,273,000. Finally, BW Gestao de Investimentos Ltda. boosted its holdings 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 valued at $9,217,000 after buying an additional 7,179 shares in the last quarter. 67.38% of the stock is currently owned by 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.