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

Celestica Inc. (NYSE:CLS) (TSE:CLS) saw a large drop in short interest in November. As of November 30th, there was short interest totalling 2,990,000 shares, a drop of 12.3% from the November 15th total of 3,410,000 shares. Currently, 2.6% of the company’s stock are sold short. Based on an average trading volume of 2,250,000 shares, the short-interest ratio is presently 1.3 days.

Institutional Investors Weigh In On Celestica

Several institutional investors have recently bought and sold shares of CLS. Whale Rock Capital Management LLC lifted its holdings in Celestica by 13.0% in the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after acquiring an additional 975,163 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Celestica in the third quarter valued at $61,210,000. Dimensional Fund Advisors LP boosted its position in shares of Celestica by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,186,543 shares of the technology company’s stock worth $68,024,000 after buying an additional 52,807 shares during the period. Driehaus Capital Management LLC grew its holdings in shares of Celestica by 19,876.9% during the second quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock valued at $66,770,000 after buying an additional 1,158,823 shares in the last quarter. Finally, Bank of Montreal Can raised its position in Celestica by 0.8% during the second quarter. Bank of Montreal Can now owns 1,150,806 shares of the technology company’s stock valued at $68,470,000 after buying an additional 9,462 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

CLS has been the subject of several research analyst reports. UBS Group assumed coverage on Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective for the company. TD Securities boosted their price target on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Stifel Nicolaus raised their price objective on Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Barclays assumed coverage on shares of Celestica in a report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price objective for the company. Finally, TD Cowen increased their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Three 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.18.

Celestica Stock Performance

Shares of NYSE:CLS traded up $8.19 during trading hours on Friday, hitting $99.20. The stock had a trading volume of 4,118,795 shares, compared to its average volume of 2,287,013. The stock’s fifty day simple moving average is $76.65 and its 200 day simple moving average is $61.10. The firm has a market capitalization of $11.54 billion, a price-to-earnings ratio of 31.49 and a beta of 2.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica has a 1-year low of $26.62 and a 1-year high of $99.34.

Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, beating 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 firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the firm earned $0.65 EPS. The firm’s revenue was up 24.8% compared to the same quarter last year. Sell-side analysts anticipate 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.