Celestica (NYSE:CLS) Stock Gets Price Target Reduction from Sanford C. Bernstein

Celestica (NYSE:CLS) (TSE:CLS) had its target price lowered by Sanford C. Bernstein from $495.00 to $340.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Several other equities analysts have also recently weighed in on the stock. FBN Securities started coverage on shares of Celestica in a research note on Tuesday, September 15th. They issued an “outperform” rating and a $375.00 price objective on the stock. Scotiabank initiated coverage on shares of Celestica in a report on Tuesday, August 11th. They issued a “sector outperform” rating and a $500.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on shares of Celestica from $445.00 to $485.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Bank of America reaffirmed a “buy” rating on shares of Celestica in a report on Wednesday, July 29th. Finally, Citigroup increased their price target on shares of Celestica from $415.00 to $436.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $445.14.

Celestica Trading Up 8.3%

Celestica stock opened at $242.37 on Monday. Celestica has a one year low of $197.50 and a one year high of $474.02. The business’s fifty day moving average is $313.28 and its 200 day moving average is $328.12. The stock has a market capitalization of $30.56 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 1.57 and a beta of 2.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.61 and a quick ratio of 1.03.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Monday, October 26th. The technology company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.28. The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.39 billion. Celestica had a net margin of 6.83% and a return on equity of 33.80%. On average, sell-side analysts predict that Celestica will post 10.97 EPS for the current year.

Insider Activity

In related news, CEO Robert Mionis sold 23,396 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $364.22, for a total transaction of $8,521,291.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Todd C. Cooper sold 20,118 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $360.00, for a total value of $7,242,480.00. Following the completion of the sale, the president owned 73,252 shares in the company, valued at $26,370,720. This represents a 21.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Celestica

A number of large investors have recently added to or reduced their stakes in the company. Cibc World Market Inc. bought a new position in Celestica during the second quarter valued at $757,811,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Celestica in the 2nd quarter worth about $674,199,000. Bank of America Corp DE purchased a new stake in shares of Celestica during the 2nd quarter valued at about $444,899,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Celestica during the 2nd quarter valued at about $351,717,000. Finally, Legal & General Group Plc bought a new position in shares of Celestica in the 2nd quarter valued at about $333,588,000. Institutional investors own 67.38% of the company’s stock.

Latest Celestica News

Here’s some of the latest news about CLS:

• Positive Sentiment: Celestica raised its 2027 revenue guidance to $40 billion and expects networking revenue from 1.6T switch programs to exceed 800G in 2027. The outlook points to continued demand for high-speed AI data-center infrastructure. Celestica: 3 Key Takeaways for Long-Term Investors
• Negative Sentiment: Sanford C. Bernstein cut its price target on CLS, a potential near-term headwind. The provided report did not specify the revised target or the rationale for the reduction. Celestica Stock Price Target Cut by Sanford C. Bernstein
• Negative Sentiment: Another analysis said the market is questioning Celestica’s AI growth story, underscoring execution and valuation risks if demand or results fall short of expectations. Celestica: The Market Is Questioning Its AI Growth Story

About Celestica

Celestica Inc. is a global provider of design, manufacturing, and supply chain services for companies across technology and industrial markets. Its work spans product development, engineering, manufacturing, testing, and ongoing product support. The company’s offerings include hardware and infrastructure used in cloud computing and data centers, communications networks, aerospace and defense, industrial equipment, and health technology. It also provides supply chain management and other services to support products throughout their lifecycle.