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

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

Hedge Funds Weigh In On Celestica

A number of hedge funds have recently modified their holdings of CLS. Westover Capital Advisors LLC raised its position in Celestica by 20.9% during the 2nd quarter. Westover Capital Advisors LLC now owns 21,776 shares of the technology company’s stock worth $1,248,000 after purchasing an additional 3,764 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of Celestica by 120.9% in the third quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock valued at $5,299,000 after buying an additional 56,732 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in shares of Celestica during the third quarter worth about $61,210,000. Sigma Planning Corp acquired a new position in shares of Celestica in the third quarter worth approximately $420,000. Finally, Advisors Asset Management Inc. boosted its holdings in 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 acquiring an additional 12,584 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Price Performance

CLS traded up $4.48 on Tuesday, reaching $89.44. The stock had a trading volume of 2,322,477 shares, compared to its average volume of 2,441,997. The firm has a 50-day moving average of $70.16 and a 200-day moving average of $59.12. Celestica has a fifty-two week low of $25.83 and a fifty-two week high of $93.15. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of 28.39 and a beta of 2.27. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

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, beating analysts’ consensus estimates of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the business earned $0.65 EPS. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Celestica will post 3.44 EPS for the current year.

Analyst Upgrades and Downgrades

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