Short Interest in Celestica Inc. (NYSE:CLS) Grows By 9.0%

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

Celestica Stock Down 3.0 %

Shares of CLS traded down $1.51 during midday trading on Tuesday, reaching $49.61. 1,790,444 shares of the stock were exchanged, compared to its average volume of 2,234,688. Celestica has a 12-month low of $20.87 and a 12-month high of $63.49. The firm has a 50 day simple moving average of $49.52 and a 200-day simple moving average of $50.78. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 18.51 and a beta of 2.29.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the previous year, the company earned $0.55 earnings per share. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. Research analysts forecast that Celestica will post 3.22 EPS for the current year.

Institutional Trading of Celestica

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

Analyst Ratings Changes

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

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.