Celestica Inc. (NYSE:CLS) Short Interest Update

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 3,410,000 shares, a growth of 15.6% from the October 31st total of 2,950,000 shares. Based on an average trading volume of 2,300,000 shares, the short-interest ratio is presently 1.5 days. Currently, 3.0% of the company’s shares are sold short.

Hedge Funds Weigh In On Celestica

Several large investors have recently modified their holdings of the business. Janus Henderson Group PLC acquired a new stake in Celestica in the first quarter worth $1,040,000. Cetera Advisors LLC purchased a new position in Celestica during the first quarter worth about $367,000. DekaBank Deutsche Girozentrale purchased a new position in Celestica during the first quarter worth about $110,000. Harbor Capital Advisors Inc. purchased a new position in Celestica during the second quarter worth about $2,308,000. Finally, Naples Money Management LLC raised its position in Celestica by 90.0% in the second quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock worth $55,000 after acquiring an additional 450 shares during the period. Institutional investors own 67.38% of the company’s stock.

Celestica Stock Performance

Celestica stock traded up $4.48 during trading hours on Tuesday, hitting $89.44. The company had a trading volume of 2,322,477 shares, compared to its average volume of 2,441,997. The firm has a market cap of $10.41 billion, a PE ratio of 28.39 and a beta of 2.27. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. Celestica has a one year low of $25.83 and a one year high of $93.15. The firm has a 50-day moving average of $69.37 and a 200 day moving average of $58.85.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the business posted $0.65 EPS. The business’s revenue was up 24.8% compared to the same quarter last year. On average, sell-side analysts expect that Celestica will post 3.44 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. TD Securities boosted their price target on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. BMO Capital Markets boosted their price target on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. UBS Group began coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price for the company. Royal Bank of Canada upped their target price on shares of Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Stifel Nicolaus upped their target price on shares of Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.45.

About Celestica

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.