Short Interest in Celestica Inc. (NYSE:CLS) Declines By 10.5%

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 3,140,000 shares, a decrease of 10.5% from the September 15th total of 3,510,000 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average trading volume of 2,180,000 shares, the days-to-cover ratio is currently 1.4 days.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. TD Securities raised their price objective on Celestica from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Royal Bank of Canada lifted their price objective on Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. CIBC increased their target price on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Stifel Nicolaus raised shares of Celestica from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Monday, September 9th. Finally, Canaccord Genuity Group upped their price target 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. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and an average price target of $61.88.

Hedge Funds Weigh In On Celestica

A number of large investors have recently bought and sold shares of CLS. Optimum Investment Advisors lifted its holdings in Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after buying an additional 200 shares in the last quarter. UMB Bank n.a. purchased a new position in Celestica during the third quarter valued at approximately $34,000. Wolff Wiese Magana LLC raised its stake in Celestica by 32.1% in the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after buying an additional 170 shares in the last quarter. Naples Money Management LLC lifted its holdings in Celestica by 90.0% during the second quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock worth $55,000 after buying an additional 450 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Celestica during the 2nd quarter valued at $59,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Trading Down 0.4 %

CLS traded down $0.25 during trading on Thursday, reaching $58.17. The company had a trading volume of 2,143,232 shares, compared to its average volume of 2,237,226. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The business has a 50 day simple moving average of $51.10 and a 200-day simple moving average of $51.70. The stock has a market cap of $6.91 billion, a P/E ratio of 21.71 and a beta of 2.28. Celestica has a 52 week low of $20.87 and a 52 week high of $64.56.

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

Celestica Company Profile

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.