Celestica Inc. (NYSE: CLS) sees sharp decline in short-term interest


Celestica Inc. (NYSE: CLS) (TSE: CLS) recorded a significant drop in short-term interest rates during the month of December. As of December 15, there was short interest totaling 420,800 shares, down 21.4% from the total of 535,600 shares as of November 30. Currently, 0.4% of the company’s shares are sold short. Based on an average daily trading volume of 393,800 shares, the day-to-coverage ratio is currently 1.1 days.

A number of brokerage firms have recently commented on CLS. Royal Bank of Canada raised its target price for Celestica shares from $ 10.00 to $ 11.00 and assigned the company a “sector performance” rating in a report released Thursday, September 23. Zacks investment research Reduces Celestica’s shares from a “buy” note to a “keep” note in a research note on Tuesday, December 28. TD Securities raised its price target for Celestica shares from $ 11.00 to $ 11.50 and assigned a “hold” rating to the stock in a report released on Wednesday, October 27. Finally, Citigroup raised its price target on Celestica from $ 8.00 to $ 8.50 and gave the company a “sell” rating in a report released on Thursday, September 23. One equity research analyst rated the stock with a sell rating and three issued a conservation rating for the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $ 10.50.

A number of institutional investors and hedge funds have recently changed their holdings in the company. Donald Smith & CO. Inc. increased its stake in Celestica by 49.4% during the second quarter. Donald Smith & CO. Inc. now owns 4,584,259 shares of the technology company valued at $ 35,986,000 after purchasing an additional 1,515,230 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Celestica shares by 28.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,675,940 shares of the technology company valued at $ 23,756,000 after purchasing an additional 589,614 shares during the period. FIL Ltd increased its stake in Celestica shares by 18.3% during the 3rd quarter. FIL Ltd now owns 3,063,742 shares of the technology company valued at $ 27,212,000 after purchasing an additional 474,911 shares during the period. SG Capital Management LLC strengthened its position in Celestica by 174.9% during the 3rd quarter. SG Capital Management LLC now owns 595,354 shares of the technology company valued at $ 5,287,000 after purchasing an additional 378,817 shares in the last quarter. Finally, Invenomic Capital Management LP increased its stake in Celestica by 285.2% in the second quarter. Invenomic Capital Management LP now owns 488,011 shares of the tech company valued at $ 3,831,000 after purchasing an additional 361,319 shares during the period. Institutional investors hold 59.05% of the company’s shares.

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NYSE CLS traded down $ 0.28 during Friday trading hours, reaching $ 11.09. The company’s shares had a trading volume of 372,861 shares, compared to its average volume of 382,895. The company has a leverage ratio of 0.35, a quick ratio of 0.91, and a current ratio of 1.67. The stock has a market cap of $ 1.38 billion, a PE ratio of 15.19, a PEG ratio of 0.75, and a beta of 2.40. The company’s 50-day moving average is $ 10.92 and its two-hundred-day moving average is $ 9.48. Celestica has a fifty-two week low of $ 7.01 and a fifty-two week high of $ 12.04.

Celestica (NYSE: CLS) (TSE: CLS) last released its quarterly results on Sunday, October 24. The tech company reported earnings per share of $ 0.35 for the quarter, beating the consensus estimate of $ 0.32 by $ 0.03. Celestica recorded a return on equity of 9.96% and a net margin of 1.67%. The company posted revenue of $ 1.47 billion in the quarter, compared to a consensus estimate of $ 1.48 billion. In the same quarter of last year, the company posted earnings per share of $ 0.32. Stock analysts expect Celestica to post earnings per share of 1.08 for the current fiscal year.

About Celestica

Celestica, Inc is committed to providing supply chain solutions on a global scale to original equipment manufacturers and service providers. It operates through the Advanced Technology Solutions (ATS) and Connectivity and Cloud Solutions (CCS) business segments. The ATS segment comprises the activities of aerospace and defense, industry, smart energy, health technology and capital goods.

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