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

Celestica Inc. (NYSE:CLS) (TSE:CLS) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 4,660,000 shares, a growth of 6.4% from the May 31st total of 4,380,000 shares. Based on an average daily volume of 2,280,000 shares, the short-interest ratio is presently 2.0 days. Approximately 3.9% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CLS. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, May 24th. Royal Bank of Canada increased their price target on Celestica from $47.00 to $53.00 and gave the stock an “outperform” rating in a research report on Sunday, April 28th. BMO Capital Markets raised their price target on Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. Canaccord Genuity Group upped their price objective on Celestica from $48.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Fox Advisors initiated coverage on Celestica in a research report on Wednesday, May 15th. They issued an “overweight” rating and a $60.00 target price on the stock. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.22.

Celestica Trading Up 1.5 %

NYSE:CLS opened at $58.67 on Wednesday. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 21.89 and a beta of 2.31. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.78 and a current ratio of 1.42. Celestica has a 1 year low of $14.37 and a 1 year high of $61.06. The business has a fifty day moving average of $52.66 and a 200-day moving average of $43.42.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.10 billion. Celestica had a net margin of 3.86% and a return on equity of 18.25%. Equities analysts predict that Celestica will post 2.87 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Principal Securities Inc. bought a new position in Celestica during the 4th quarter valued at $42,000. Byrne Asset Management LLC boosted its stake in Celestica by 78.6% during the first quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock valued at $56,000 after buying an additional 550 shares in the last quarter. UMB Bank n.a. acquired a new position in Celestica during the first quarter worth about $64,000. Blue Trust Inc. grew its holdings in Celestica by 128.6% during the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock worth $72,000 after acquiring an additional 1,384 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new stake in Celestica in the first quarter worth about $110,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.