Celestica (NYSE:CLS) Shares Gap Down – What’s Next?

Celestica, Inc. (NYSE:CLS) (TSE:CLS) shares gapped down before the market opened on Thursday . The stock had previously closed at $362.76, but opened at $311.00. Celestica shares last traded at $320.4080, with a volume of 2,592,075 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently commented on CLS. BWS Financial reaffirmed a “buy” rating on shares of Celestica in a research note on Tuesday, July 28th. BMO Capital Markets upped their target price on shares of Celestica from $370.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Wolfe Research upped their price objective 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. TD Cowen raised shares of Celestica from a “hold” rating to a “buy” rating and boosted their target price for the stock from $350.00 to $430.00 in a research note on Wednesday, April 29th. Finally, Weiss Ratings raised Celestica from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $437.00.

Celestica Stock Down 12.1%

The firm has a market capitalization of $36.65 billion, a PE ratio of 32.96 and a beta of 2.06. The stock has a 50-day simple moving average of $360.33 and a 200-day simple moving average of $334.55. The company has a quick ratio of 0.68, a current ratio of 1.23 and a debt-to-equity ratio of 0.32.

Celestica (NYSE:CLS) (TSE:CLS) last released 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. The business had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $4.30 billion. Celestica had a net margin of 7.16% and a return on equity of 39.96%. The company’s revenue was up 62.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.39 earnings per share. Celestica has set its FY 2026 guidance at 11.300-11.300 EPS and its Q3 2026 guidance at 2.880-3.080 EPS. Analysts forecast that Celestica, Inc. will post 9.97 EPS for the current year.

Insider Buying and Selling

In other news, CEO Robert Mionis sold 9,543 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $367.49, for a total value of $3,506,957.07. Following the completion of the transaction, the chief executive officer directly owned 50,841 shares in the company, valued at approximately $18,683,559.09. This trade represents a 15.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Max Wilson sold 4,168 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $333.31, for a total transaction of $1,389,236.08. Following the completion of the sale, the director owned 24,718 shares in the company, valued at $8,238,756.58. This represents a 14.43% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 171,594 shares of company stock valued at $67,021,079. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Celestica

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC purchased a new position in shares of Celestica in the 1st quarter worth about $68,952,000. CIBC Asset Management Inc grew its holdings in shares of 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 last quarter. Norges Bank purchased a new position in Celestica in the 4th quarter worth approximately $456,511,000. Marietta Investment Partners LLC bought a new position in Celestica in the 4th quarter valued at approximately $1,273,000. Finally, BW Gestao de Investimentos Ltda. boosted its stake in 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 purchasing an additional 7,179 shares during the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

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.