Celestica Inc. (NYSE:CLS) Sees Significant Decrease in Short Interest

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 trading volume of 2,250,000 shares, the days-to-cover ratio is currently 1.3 days. Currently, 2.6% of the company’s shares are sold short.

Celestica Trading Down 1.2 %

Celestica stock traded down $1.20 during mid-day trading on Tuesday, reaching $97.81. 1,560,924 shares of the company traded hands, compared to its average volume of 2,283,311. The firm’s 50 day moving average price is $77.55 and its 200 day moving average price is $61.41. Celestica has a 52-week low of $26.62 and a 52-week high of $100.51. 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 price-to-earnings ratio of 30.98 and a beta of 2.27.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Celestica had a net margin of 4.08% and a return on equity of 21.58%. Celestica’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.65 earnings per share. On average, analysts anticipate that Celestica will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CLS has been the topic of a number of analyst reports. Barclays initiated coverage on shares of Celestica in a research report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 target price on the stock. Stifel Nicolaus lifted their price objective on Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. TD Securities increased their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Royal Bank of Canada lifted their price target on Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, TD Cowen increased their price objective on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.18.

Institutional Investors Weigh In On Celestica

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLS. Optimum Investment Advisors boosted its holdings in shares of 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. Financial Management Professionals Inc. bought a new stake in Celestica during the third quarter worth about $30,000. UMB Bank n.a. purchased a new stake in Celestica in the third quarter worth about $34,000. Private Trust Co. NA increased its stake in shares of Celestica by 480.0% during the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after purchasing an additional 720 shares in the last quarter. Finally, Global Trust Asset Management LLC purchased a new position in shares of Celestica during the third quarter valued at approximately $51,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.