Celestica, Inc. (NYSE: CLS) stock jumped 0.29% on Monday to $28.13 against a previous-day closing price of $28.05. With 1.34 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.92 million shares. The 52-week range on CLS shows that it touched its highest point at $28.38 and its lowest point at $10.50 during that stretch. It currently has a 1-year price target of $29.00. Beta for the stock currently stands at 2.16.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CLS was up-trending over the past week, with a rise of 9.80%, but this was up by 8.99% over a month. Three-month performance surged to 31.14% while six-month performance rose 146.32%. The stock gained 150.94% in the past year, while it has gained 149.60% so far this year. A look at the trailing 12-month EPS for CLS yields 1.68 with Next year EPS estimates of 2.66. For the next quarter, that number is 0.67. This implies an EPS growth rate of 23.83% for this year and 12.93% for next year. EPS is expected to grow by 18.70% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 9.83%.
Float and Shares Shorts:
At present, 137.96 million CLS shares are outstanding with a float of 117.62 million shares on hand for trading. On Oct 30, 2023, short shares totaled 2.05 million, which was 1.72% higher than short shares on Sep 28, 2023. In addition to Mr. Robert Andrew Mionis as the firm’s President, CEO & Director, Mr. Mandeep Chawla serves as its Chief Financial Officer.
Through their ownership of 77.60% of CLS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 43.26% of CLS, in contrast to 30.08% held by mutual funds. As the largest shareholder in CLS with 5.11% of the stake, Connor, Clark & Lunn Investment M holds 6,094,994 shares worth 6,094,994. A second-largest stockholder of CLS, Letko, Brosseau & Associates Inc., holds 5,857,661 shares, controlling over 4.91% of the firm’s shares. Acadian Asset Management LLC is the third largest shareholder in CLS, holding 3,715,321 shares or 3.11% stake. With a 2.28% stake in CLS, the Vanguard Selected Value Fund is the largest stakeholder. A total of 2,724,729 shares are owned by the mutual fund manager. The DFA International Small Cap Value, which owns about 1.92% of CLS stock, is the second-largest Mutual Fund holder. It holds 2,296,152 shares valued at 53.62 million. Victory Trivalent International S holds 1.16% of the stake in CLS, owning 1,386,352 shares worth 32.37 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CLS since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CLS analysts setting a high price target of $33.00 and a low target of $26.00, the average target price over the next 12 months is $29.00. Based on these targets, CLS could surge 17.31% to reach the target high and fall by -7.57% to reach the target low. Reaching the average price target will result in a growth of 3.09% from current levels.
Summary of Insider Activity:
Insiders traded CLS stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 6,974 shares were bought while 0 shares were sold. The number of buy transactions has increased to 90 while that of sell transactions has risen to 63 over the past year. The total number of shares bought during that period was 23,078,860 while 22,168,714 shares were sold.