Celestica Inc. (NYSE:CLS) Short Interest Up 9.0% in September

Celestica Inc. (NYSE:CLS) (TSE:CLS) saw a significant increase in short interest in September. As of September 15th, there was short interest totalling 3,510,000 shares, an increase of 9.0% from the August 31st total of 3,220,000 shares. Based on an average daily volume of 2,200,000 shares, the days-to-cover ratio is presently 1.6 days. Approximately 3.0% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CLS. Canaccord Genuity Group boosted their price objective on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, July 26th. BMO Capital Markets boosted their price objective on shares of Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. CIBC boosted their price objective on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Stifel Nicolaus raised shares of Celestica from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Monday, September 9th. Finally, Royal Bank of Canada boosted their price objective on shares of Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.38.

Celestica Stock Performance

Shares of CLS stock traded down $1.51 during midday trading on Tuesday, hitting $49.61. 1,790,444 shares of the company were exchanged, compared to its average volume of 2,234,688. The firm has a market capitalization of $5.89 billion, a P/E ratio of 18.51 and a beta of 2.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47. The firm’s 50 day moving average price is $49.52 and its two-hundred day moving average price is $50.78. Celestica has a 52 week low of $20.87 and a 52 week high of $63.49.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.81 by $0.10. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.25 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. Celestica’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 EPS. As a group, equities research analysts anticipate that Celestica will post 3.22 earnings per share for the current year.

Institutional Trading of Celestica

A number of institutional investors have recently bought and sold shares of the business. Wolff Wiese Magana LLC boosted its holdings in Celestica by 32.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock valued at $40,000 after purchasing an additional 170 shares during the period. Truist Financial Corp lifted its holdings in shares of Celestica by 2.0% during the 2nd quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock worth $631,000 after acquiring an additional 214 shares during the period. Creative Planning lifted its holdings in shares of Celestica by 4.7% during the 2nd quarter. Creative Planning now owns 7,526 shares of the technology company’s stock worth $431,000 after acquiring an additional 336 shares during the period. Bay Rivers Group lifted its holdings in shares of Celestica by 1.9% during the 2nd quarter. Bay Rivers Group now owns 19,517 shares of the technology company’s stock worth $1,119,000 after acquiring an additional 370 shares during the period. Finally, Naples Money Management LLC lifted its holdings in shares of Celestica by 90.0% during the 2nd quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock worth $55,000 after acquiring an additional 450 shares during the period. Institutional investors own 67.38% of the company’s stock.

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.