Celestica Inc. (NYSE:CLS) Short Interest Update

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

Analysts Set New Price Targets

CLS has been the subject of a number of recent research reports. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. 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 report on Friday, July 26th. BMO Capital Markets upped their price target on shares of Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Stifel Nicolaus upgraded shares of Celestica from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Monday, September 9th. Finally, CIBC upped their price target on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.38.

Institutional Trading of Celestica

Institutional investors have recently bought and sold shares of the stock. Wolff Wiese Magana LLC lifted its position 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 during the last quarter. Principal Securities Inc. bought a new stake in Celestica in the fourth quarter worth $42,000. Naples Money Management LLC lifted its position in Celestica by 90.0% in 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 last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Celestica during the second quarter worth $59,000. Finally, UMB Bank n.a. bought a new stake in shares of Celestica during the first quarter worth $64,000. 67.38% of the stock is currently owned by institutional investors.

Celestica Price Performance

CLS traded up $1.94 during trading on Thursday, reaching $48.77. 922,103 shares of the company traded hands, compared to its average volume of 2,268,646. 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 has a 12-month low of $20.87 and a 12-month high of $63.49. The firm has a fifty day simple moving average of $50.86 and a 200 day simple moving average of $50.48. The company has a market cap of $5.79 billion, a P/E ratio of 17.48 and a beta of 2.29.

Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, beating 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 analyst estimates of $2.25 billion. During the same period last year, the firm posted $0.55 earnings per share. Celestica’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, equities analysts forecast that Celestica will post 3.22 EPS for the current 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.