Celestica Inc. (NYSE:CLS) Short Interest Up 15.6% in November

Celestica Inc. (NYSE:CLS) (TSE:CLS) saw a significant increase in short interest in November. As of November 15th, there was short interest totalling 3,410,000 shares, an increase of 15.6% from the October 31st total of 2,950,000 shares. Currently, 3.0% of the company’s stock are short sold. Based on an average daily volume of 2,300,000 shares, the short-interest ratio is presently 1.5 days.

Celestica Stock Performance

Celestica stock traded up $4.48 during midday trading on Tuesday, reaching $89.44. 2,322,477 shares of the company’s stock were exchanged, compared to its average volume of 2,441,997. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The firm has a market cap of $10.41 billion, a price-to-earnings ratio of 28.39 and a beta of 2.27. Celestica has a 52 week low of $25.83 and a 52 week high of $93.15. The stock’s 50-day simple moving average is $70.16 and its 200 day simple moving average is $59.12.

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

Institutional Investors Weigh In On Celestica

A number of hedge funds and other institutional investors have recently modified their holdings of CLS. Westover Capital Advisors LLC grew its stake in shares of Celestica by 20.9% in the second quarter. Westover Capital Advisors LLC now owns 21,776 shares of the technology company’s stock valued at $1,248,000 after acquiring an additional 3,764 shares in the last quarter. Quantbot Technologies LP grew its position in shares of Celestica by 120.9% during the 3rd quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock worth $5,299,000 after purchasing an additional 56,732 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Celestica during the third quarter worth approximately $61,210,000. Sigma Planning Corp acquired a new stake in shares of Celestica in the third quarter valued at approximately $420,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of Celestica by 61.9% in the third quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock valued at $1,682,000 after buying an additional 12,584 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

Analyst Ratings Changes

CLS has been the topic of several research reports. UBS Group assumed coverage on Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price on the stock. Stifel Nicolaus increased their target price on shares of Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Barclays started coverage on shares of Celestica in a research report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 target price for the company. Royal Bank of Canada boosted their price target on shares of Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, TD Securities raised their price objective on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Celestica currently has an average rating of “Moderate Buy” and an average price target of $71.45.

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.