Celestica Inc. (NYSE:CLS) Sees Significant Increase in Short Interest

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the recipient of a large growth in short interest in August. As of August 15th, there was short interest totalling 1,560,000 shares, a growth of 7.6% from the July 31st total of 1,450,000 shares. Currently, 1.4% of the company’s stock are sold short. Based on an average trading volume of 1,350,000 shares, the short-interest ratio is presently 1.2 days.

Celestica Stock Up 0.9 %

CLS stock opened at $23.51 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.43 and a quick ratio of 0.63. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 17.04 and a beta of 2.16. The business’s fifty day moving average price is $18.67 and its two-hundred day moving average price is $14.60. Celestica has a fifty-two week low of $8.21 and a fifty-two week high of $23.89.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.07. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Celestica had a return on equity of 15.54% and a net margin of 2.17%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 EPS. On average, equities analysts anticipate that Celestica will post 2.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CLS shares. Canaccord Genuity Group boosted their price target on Celestica from $16.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. CIBC raised Celestica from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $14.00 to $25.00 in a research report on Friday, July 28th. Stifel Nicolaus boosted their price target on Celestica from $20.00 to $24.00 and gave the stock a “hold” rating in a research report on Wednesday, August 16th. Royal Bank of Canada raised Celestica from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $14.00 to $22.00 in a research report on Friday, July 28th. Finally, TD Securities raised Celestica from a “hold” rating to a “buy” rating and boosted their price target for the stock from $14.50 to $23.00 in a research report on Friday, July 28th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.31.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its position in shares of Celestica by 153.8% in the fourth quarter. Quadrant Capital Group LLC now owns 3,875 shares of the technology company’s stock worth $44,000 after purchasing an additional 2,348 shares during the period. Advisor Group Holdings Inc. increased its position in shares of Celestica by 2,775.7% in the fourth quarter. Advisor Group Holdings Inc. now owns 3,911 shares of the technology company’s stock worth $44,000 after purchasing an additional 3,775 shares during the period. UniSuper Management Pty Ltd bought a new position in shares of Celestica in the second quarter worth $56,000. Signaturefd LLC increased its position in shares of Celestica by 27.5% in the second quarter. Signaturefd LLC now owns 5,044 shares of the technology company’s stock worth $73,000 after purchasing an additional 1,088 shares during the period. Finally, Deutsche Bank AG bought a new position in shares of Celestica in the fourth quarter worth $73,000. Institutional investors own 71.33% of the company’s stock.

Celestica Company Profile

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through Advanced Technology Solutions, and Connectivity & Cloud Solutions segments. 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.