Celestica Inc. (NYSE:CLS) Short Interest Update

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 3,220,000 shares, a drop of 7.5% from the August 15th total of 3,480,000 shares. Based on an average daily volume of 2,290,000 shares, the days-to-cover ratio is currently 1.4 days. Approximately 2.7% of the company’s stock are short sold.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Stifel Nicolaus upgraded shares of Celestica from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Monday, September 9th. CIBC raised their price objective on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. BMO Capital Markets raised their price objective on shares of Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. Canaccord Genuity Group raised their price objective on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.38.

Hedge Funds Weigh In On Celestica

Hedge funds have recently bought and sold shares of the company. Oliver Luxxe Assets LLC purchased a new position in Celestica during the first quarter valued at approximately $3,248,000. Dimensional Fund Advisors LP lifted its position in Celestica by 12.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,314,600 shares of the technology company’s stock valued at $38,491,000 after purchasing an additional 147,417 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Celestica by 62.9% during the first quarter. BNP Paribas Financial Markets now owns 546,230 shares of the technology company’s stock valued at $24,548,000 after purchasing an additional 210,943 shares during the last quarter. Rockingstone Advisors LLC bought a new stake in Celestica during the second quarter valued at approximately $2,442,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Celestica during the first quarter valued at approximately $1,231,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Stock Performance

Shares of CLS traded up $1.94 during trading hours on Thursday, hitting $48.77. The company’s stock had a trading volume of 922,103 shares, compared to its average volume of 2,268,646. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 17.48 and a beta of 2.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.86. The business has a 50 day simple moving average of $50.86 and a two-hundred day simple moving average of $50.48. Celestica has a 52-week low of $20.87 and a 52-week high of $63.49.

Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.10. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.25 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The company’s revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the company earned $0.55 earnings per share. On average, equities analysts expect that Celestica will post 3.22 earnings per share for the current fiscal year.

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.