Celestica (NYSE:CLS) Stock Price Down 2.8% – Here’s What Happened

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) dropped 2.8% during mid-day trading on Wednesday . The company traded as low as $292.50 and last traded at $302.0060. Approximately 2,284,429 shares changed hands during trading, a decline of 8% from the average session volume of 2,474,153 shares. The stock had previously closed at $310.59.

Analyst Upgrades and Downgrades

A number of research firms have commented on CLS. Zacks Research upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 26th. UBS Group reaffirmed a “neutral” rating and issued a $410.00 price objective on shares of Celestica in a research note on Wednesday, July 29th. Wolfe Research lifted their price target on shares of Celestica from $425.00 to $475.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Royal Bank Of Canada upped their price target on Celestica from $440.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Finally, TD Cowen raised Celestica from a “hold” rating to a “buy” rating and raised their price objective for the stock from $350.00 to $430.00 in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $438.86.

Celestica Trading Down 2.0%

The company’s 50-day moving average is $343.11 and its 200 day moving average is $335.43. The company has a current ratio of 1.23, a quick ratio of 0.68 and a debt-to-equity ratio of 0.32. The firm has a market cap of $34.04 billion, a PE ratio of 30.77 and a beta of 2.06.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data 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 firm had revenue of $4.68 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the previous year, the company posted $1.39 EPS. The company’s quarterly revenue 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. As a group, sell-side analysts predict that Celestica, Inc. will post 9.97 EPS for the current year.

Insider Transactions at Celestica

In other news, CFO Mandeep Chawla sold 16,117 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $369.32, for a total value of $5,952,330.44. Following the completion of the sale, the chief financial officer directly owned 65,444 shares of the company’s stock, valued at $24,169,778.08. This represents a 19.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Mionis sold 23,496 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $362.39, for a total transaction of $8,514,715.44. Following the sale, the chief executive officer owned 23,396 shares of the company’s stock, valued at approximately $8,478,476.44. This represents a 50.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 356,553 shares of company stock valued at $135,238,444 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Celestica

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewGen Equity Long Short Fund purchased a new stake in shares of Celestica during the second quarter worth $14,050,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Celestica by 7,646.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,007 shares of the technology company’s stock worth $157,000 after purchasing an additional 994 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Celestica by 30.0% in the 2nd quarter. First Trust Advisors LP now owns 78,061 shares of the technology company’s stock valued at $12,197,000 after buying an additional 18,025 shares in the last quarter. NewEdge Advisors LLC grew its position in Celestica by 385.8% in the second quarter. NewEdge Advisors LLC now owns 2,803 shares of the technology company’s stock worth $438,000 after acquiring an additional 2,226 shares in the last quarter. Finally, HUB Investment Partners LLC boosted its holdings in Celestica by 11.0% in the second quarter. HUB Investment Partners LLC now owns 3,181 shares of the technology company’s stock worth $497,000 after purchasing an additional 315 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

About Celestica

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.