Celestica Inc. (NYSE:CLS) Short Interest Update

Celestica Inc. (NYSE:CLS) (TSE:CLS) saw a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 3,140,000 shares, a decline 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 daily volume of 2,180,000 shares, the days-to-cover ratio is currently 1.4 days.

Celestica Price Performance

Shares of CLS traded down $0.25 during mid-day 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’s 50-day moving average is $51.10 and its 200-day moving average is $51.70. Celestica has a twelve month low of $20.87 and a twelve month high of $64.56. The company has a market capitalization of $6.91 billion, a P/E ratio of 21.64 and a beta of 2.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.86.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly 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 return on equity of 19.96% and a net margin of 4.16%. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the company earned $0.55 EPS. The firm’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 year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Westover Capital Advisors LLC boosted its position in shares of Celestica by 20.9% during the 2nd quarter. Westover Capital Advisors LLC now owns 21,776 shares of the technology company’s stock worth $1,248,000 after purchasing an additional 3,764 shares in the last quarter. Oliver Luxxe Assets LLC purchased a new stake in Celestica in the 1st quarter valued at about $3,248,000. BNP Paribas Financial Markets increased its stake in Celestica by 62.9% in the 1st quarter. BNP Paribas Financial Markets now owns 546,230 shares of the technology company’s stock valued at $24,548,000 after buying an additional 210,943 shares during the last quarter. Rockingstone Advisors LLC purchased a new stake in Celestica in the 2nd quarter valued at about $2,442,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Celestica in the 1st quarter valued at about $1,231,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. CIBC increased their price objective on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Canaccord Genuity Group increased their target price on Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, TD Securities raised their target price on Celestica from $61.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Celestica has a consensus rating of “Moderate Buy” and an average target price of $61.88.

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.