Celestica Inc. (NYSE:CLS) Short Interest Update

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 3,220,000 shares, a drop of 7.5% from the August 15th total of 3,480,000 shares. Based on an average daily volume of 2,290,000 shares, the short-interest ratio is currently 1.4 days. Currently, 2.7% of the company’s shares are short sold.

Celestica Stock Up 1.9 %

NYSE CLS traded up $0.89 on Wednesday, hitting $47.88. 872,904 shares of the stock were exchanged, compared to its average volume of 2,272,318. Celestica has a fifty-two week low of $20.87 and a fifty-two week high of $63.49. The company has a 50-day moving average price of $51.15 and a 200-day moving average price of $50.51. 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 company has a market cap of $5.69 billion, a PE ratio of 17.54 and a beta of 2.29.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $2.25 billion. During the same quarter in the previous year, the firm posted $0.55 earnings per share. The company’s revenue was up 23.3% compared to the same quarter last year. Sell-side analysts anticipate that Celestica will post 3.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on CLS shares. StockNews.com cut 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 note on Friday, July 26th. BMO Capital Markets boosted their price target on shares of Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. CIBC raised their price objective on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada lifted 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. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $58.38.

Institutional Investors Weigh In On Celestica

Several hedge funds and other institutional investors have recently made changes to their positions in CLS. Wolff Wiese Magana LLC grew its holdings in shares of Celestica by 32.1% during the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after purchasing an additional 170 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Celestica in the 4th quarter valued at about $42,000. Naples Money Management LLC grew its stake in Celestica by 90.0% during the 2nd 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 last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Celestica during the second quarter worth approximately $59,000. Finally, UMB Bank n.a. acquired a new position in Celestica during the first quarter worth approximately $64,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.