Celestica Inc. (NYSE:CLS) Short Interest Down 12.3% in November

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the target of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 2,990,000 shares, a decrease of 12.3% from the November 15th total of 3,410,000 shares. Based on an average daily volume of 2,250,000 shares, the short-interest ratio is currently 1.3 days. Currently, 2.6% of the shares of the company are sold short.

Institutional Trading of Celestica

Hedge funds and other institutional investors have recently modified their holdings of the business. Optimum Investment Advisors raised its position in Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after purchasing an additional 200 shares during the period. Financial Management Professionals Inc. purchased a new position in Celestica during the 3rd quarter valued at about $30,000. UMB Bank n.a. acquired a new position in Celestica in the 3rd quarter valued at about $34,000. Private Trust Co. NA grew its position in Celestica by 480.0% in the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after acquiring an additional 720 shares in the last quarter. Finally, Global Trust Asset Management LLC purchased a new stake in Celestica during the third quarter worth about $51,000. 67.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on CLS. Barclays started coverage on shares of Celestica in a research note on Tuesday, November 5th. They set an “overweight” rating and a $91.00 price objective for the company. UBS Group assumed coverage on shares of Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target on the stock. BMO Capital Markets boosted their price objective on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. TD Securities raised their target price on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Stifel Nicolaus boosted their price target on Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.18.

Celestica Trading Down 1.2 %

NYSE:CLS traded down $1.18 on Tuesday, hitting $97.83. The stock had a trading volume of 1,561,233 shares, compared to its average volume of 2,283,311. The company has a fifty day moving average price of $77.55 and a two-hundred day moving average price of $61.41. The stock has a market cap of $11.38 billion, a price-to-earnings ratio of 30.98 and a beta of 2.27. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Celestica has a 1-year low of $26.62 and a 1-year high of $100.51.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.11. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the business posted $0.65 earnings per share. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. Equities research analysts expect that Celestica will post 3.44 earnings per share for the current fiscal 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.