Celestica Inc. (NYSE:CLS) Short Interest Update

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS was the recipient of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 2,990,000 shares, a drop of 12.3% from the November 15th total of 3,410,000 shares. Based on an average daily volume of 2,250,000 shares, the days-to-cover ratio is presently 1.3 days. Approximately 2.6% of the shares of the company are short sold.

Celestica Price Performance

NYSE:CLS traded up $8.19 during trading hours on Friday, reaching $99.20. 4,118,795 shares of the company were exchanged, compared to its average volume of 2,287,013. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The firm has a market cap of $11.54 billion, a PE ratio of 31.49 and a beta of 2.27. Celestica has a twelve month low of $26.62 and a twelve month high of $99.34. The stock's 50-day moving average is $76.65 and its 200-day moving average is $61.12.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share 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 firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the company posted $0.65 EPS. Celestica's quarterly revenue was up 24.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Celestica will post 3.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Celestica in the third quarter valued at about $61,210,000. Driehaus Capital Management LLC raised its holdings in Celestica by 19,876.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company's stock valued at $66,770,000 after acquiring an additional 1,158,823 shares during the last quarter. Whale Rock Capital Management LLC lifted its stake in Celestica by 13.0% in the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company's stock worth $432,846,000 after purchasing an additional 975,163 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Celestica by 38.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company's stock worth $55,451,000 after purchasing an additional 301,563 shares in the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Celestica by 1,697.3% during the 3rd quarter. Natixis Advisors LLC now owns 233,485 shares of the technology company's stock worth $11,936,000 after purchasing an additional 220,494 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CLS. Barclays started coverage on shares of Celestica in a research report on Tuesday, November 5th. They set an "overweight" rating and a $91.00 price target for the company. Royal Bank of Canada boosted their target price on shares of Celestica from $65.00 to $75.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Stifel Nicolaus increased their price target on Celestica from $70.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. TD Cowen boosted their price objective on Celestica from $68.00 to $70.00 and gave the company a "buy" rating in a report 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 target price on the stock. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $74.18.

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.