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

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its stake in shares of Celestica by 21.1% in the third quarter. Franklin Resources Inc. now owns 276,788 shares of the technology company’s stock valued at $14,149,000 after buying an additional 48,251 shares in the last quarter. World Investment Advisors LLC purchased a new position in Celestica in the 3rd quarter worth approximately $4,003,000. Sanctuary Advisors LLC grew its position in Celestica by 10.5% in the third quarter. Sanctuary Advisors LLC now owns 41,228 shares of the technology company’s stock valued at $2,108,000 after acquiring an additional 3,902 shares in the last quarter. Invst LLC raised its stake in shares of Celestica by 24.0% during the third quarter. Invst LLC now owns 10,069 shares of the technology company’s stock valued at $515,000 after purchasing an additional 1,948 shares during the period. Finally, Arete Wealth Advisors LLC acquired a new position in shares of Celestica during the third quarter worth $263,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

Celestica Trading Up 9.0 %

Shares of NYSE CLS traded up $8.19 during trading on Friday, hitting $99.20. 4,118,795 shares of the company traded hands, compared to its average volume of 2,287,013. The firm has a market capitalization of $11.54 billion, a P/E ratio of 31.49 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. The company has a 50-day moving average price of $76.65 and a 200-day moving average price of $61.10. Celestica has a 1 year low of $26.62 and a 1 year high of $99.34.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS 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 firm posted $0.65 earnings per share. The firm’s revenue was up 24.8% on a year-over-year basis. On average, equities analysts predict that Celestica will post 3.44 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. UBS Group assumed coverage on Celestica in a research note on Friday, November 22nd. They set a “neutral” rating and a $95.00 target price for the company. TD Cowen raised their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. TD Securities upped their price target on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Stifel Nicolaus raised their price objective on shares of Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Barclays assumed coverage on shares of Celestica in a report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 target price for the company. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.18.

About Celestica

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.