Celestica Inc. (NYSE:CLS) Short Interest Update

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the target of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totalling 4,600,000 shares, a decrease of 7.8% from the June 30th total of 4,990,000 shares. Based on an average trading volume of 2,320,000 shares, the days-to-cover ratio is presently 2.0 days. Approximately 3.9% of the shares of the stock are sold short.

Celestica Trading Down 3.9 %

Shares of CLS traded down $2.07 during midday trading on Thursday, hitting $50.37. 2,825,181 shares of the stock were exchanged, compared to its average volume of 2,315,515. Celestica has a 52-week low of $20.22 and a 52-week high of $63.49. The stock has a fifty day simple moving average of $56.45 and a 200 day simple moving average of $47.38. The firm has a market cap of $5.98 billion, a P/E ratio of 18.85 and a beta of 2.31. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CLS shares. BMO Capital Markets upped their price target on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. Stifel Nicolaus upped their price target on Celestica from $51.00 to $58.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Canaccord Genuity Group upped their price target on Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, July 26th. CIBC upped their price target on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada upped their price target on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.38.

Institutional Trading of Celestica

A number of hedge funds and other institutional investors have recently bought and sold shares of CLS. Vanguard Group Inc. increased its position in shares of Celestica by 1.3% during the third quarter. Vanguard Group Inc. now owns 3,704,369 shares of the technology company’s stock worth $90,831,000 after purchasing an additional 47,619 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Celestica by 41.8% during the fourth quarter. Raymond James & Associates now owns 47,757 shares of the technology company’s stock worth $1,398,000 after buying an additional 14,072 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Celestica by 128.6% during the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock worth $72,000 after buying an additional 1,384 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new position in shares of Celestica during the fourth quarter worth about $214,000. Finally, Kendall Capital Management grew its holdings in shares of Celestica by 54.7% during the fourth quarter. Kendall Capital Management now owns 39,990 shares of the technology company’s stock worth $1,171,000 after buying an additional 14,140 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.