Short Interest in Celestica Inc. (NYSE:CLS) Decreases By 39.3%

Celestica Inc. (NYSE:CLSGet Rating) (TSE:CLS) was the recipient of a large decrease in short interest in May. As of May 31st, there was short interest totalling 220,500 shares, a decrease of 39.3% from the May 15th total of 363,200 shares. Based on an average daily volume of 552,500 shares, the short-interest ratio is currently 0.4 days. Approximately 0.2% of the company’s stock are sold short.

Institutional investors and hedge funds have recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new position in shares of Celestica during the first quarter worth approximately $28,000. C M Bidwell & Associates Ltd. bought a new position in shares of Celestica during the first quarter worth approximately $40,000. UBS Group AG increased its stake in Celestica by 16.1% in the third quarter. UBS Group AG now owns 7,154 shares of the technology company’s stock valued at $64,000 after acquiring an additional 993 shares during the last quarter. Wells Fargo & Company MN increased its stake in Celestica by 13.7% in the second quarter. Wells Fargo & Company MN now owns 10,157 shares of the technology company’s stock valued at $80,000 after acquiring an additional 1,221 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in Celestica in the first quarter valued at approximately $87,000. 61.00% of the stock is currently owned by institutional investors.

Shares of CLS stock opened at $10.85 on Monday. The firm has a 50 day moving average price of $10.92 and a two-hundred day moving average price of $11.29. The company has a quick ratio of 0.70, a current ratio of 1.51 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $1.35 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 0.45 and a beta of 2.14. Celestica has a 12-month low of $7.01 and a 12-month high of $13.40.

Celestica (NYSE:CLSGet Rating) (TSE:CLS) last issued its quarterly earnings data on Wednesday, April 27th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.04. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.48 billion. Celestica had a net margin of 1.93% and a return on equity of 12.61%. The business’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same period last year, the business posted $0.22 earnings per share. As a group, research analysts expect that Celestica will post 1.57 EPS for the current year.

Several equities analysts have recently weighed in on the company. StockNews.com upgraded Celestica from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 28th. TD Securities raised their target price on shares of Celestica from $12.50 to $13.00 and gave the company a “hold” rating in a research note on Monday, May 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.30.

About Celestica (Get Rating)

Celestica Inc provides hardware platform and 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, engineering, supply chain management, new product introduction, 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.

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