Celestica Inc. (NYSE:CLS) Short Interest Update

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the recipient of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 2,990,000 shares, a decline of 12.3% from the November 15th total of 3,410,000 shares. Based on an average daily volume of 2,250,000 shares, the days-to-cover ratio is presently 1.3 days. Currently, 2.6% of the company’s stock are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. increased its stake in shares of Celestica by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 276,788 shares of the technology company’s stock worth $14,149,000 after purchasing an additional 48,251 shares in the last quarter. World Investment Advisors LLC bought a new stake in Celestica during the third quarter valued at about $4,003,000. Sanctuary Advisors LLC increased its position in Celestica by 10.5% in the third quarter. Sanctuary Advisors LLC now owns 41,228 shares of the technology company’s stock worth $2,108,000 after buying an additional 3,902 shares in the last quarter. Invst LLC raised its stake in shares of Celestica by 24.0% in the third quarter. Invst LLC now owns 10,069 shares of the technology company’s stock worth $515,000 after buying an additional 1,948 shares during the period. Finally, Arete Wealth Advisors LLC purchased a new position in shares of Celestica during the 3rd quarter valued at about $263,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Stock Performance

Shares of CLS traded down $1.20 during trading hours on Tuesday, hitting $97.81. The stock had a trading volume of 1,560,924 shares, compared to its average volume of 2,283,311. Celestica has a 12 month low of $26.62 and a 12 month high of $100.51. The stock has a fifty day moving average price of $77.55 and a 200 day moving average price of $61.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The firm has a market capitalization of $11.38 billion, a PE ratio of 30.98 and a beta of 2.27.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.93 by $0.11. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.65 EPS. Analysts anticipate that Celestica will post 3.44 EPS for the current year.

Analyst Ratings Changes

CLS has been the topic of several recent analyst reports. Stifel Nicolaus increased their price objective on shares of Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. UBS Group initiated coverage on shares of Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target on the stock. TD Cowen boosted their price objective on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. TD Securities increased their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, BMO Capital Markets boosted their price target on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.18.

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.