Celestica Inc (CLS) Short Interest Up 156.4% in January

Celestica Inc (NYSE:CLS) (TSE:CLS) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 1,824,341 shares, a growth of 156.4% from the January 12th total of 711,479 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average daily volume of 1,630,052 shares, the short-interest ratio is currently 1.1 days.

Shares of Celestica (CLS) opened at $10.46 on Wednesday. The company has a current ratio of 1.94, a quick ratio of 1.10 and a debt-to-equity ratio of 0.12. Celestica has a 1-year low of $9.79 and a 1-year high of $14.74. The stock has a market capitalization of $1,500.00, a price-to-earnings ratio of 14.53 and a beta of 0.71.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.10). Celestica had a return on equity of 8.84% and a net margin of 1.72%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. analysts predict that Celestica will post 0.78 EPS for the current year.

Celestica announced that its Board of Directors has initiated a stock buyback program on Thursday, October 26th that permits the company to buyback 1,000% of shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

A number of institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd increased its position in Celestica by 5.6% during the second quarter. Dynamic Technology Lab Private Ltd now owns 10,957 shares of the technology company’s stock worth $149,000 after buying an additional 579 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in Celestica by 5.2% during the second quarter. Parametric Portfolio Associates LLC now owns 32,204 shares of the technology company’s stock worth $437,000 after buying an additional 1,582 shares during the last quarter. Bank of New York Mellon Corp increased its position in Celestica by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 103,151 shares of the technology company’s stock worth $1,401,000 after buying an additional 1,680 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Celestica by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 595,293 shares of the technology company’s stock worth $8,084,000 after buying an additional 5,276 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in Celestica by 2.7% during the third quarter. Nordea Investment Management AB now owns 202,100 shares of the technology company’s stock worth $2,502,000 after buying an additional 5,400 shares during the last quarter. 66.80% of the stock is currently owned by hedge funds and other institutional investors.

CLS has been the subject of a number of research analyst reports. TD Securities reduced their target price on Celestica from $13.50 to $11.50 and set a “hold” rating for the company in a report on Friday, October 27th. Royal Bank of Canada reduced their target price on Celestica from $15.00 to $13.00 and set a “sector perform” rating for the company in a report on Friday, October 27th. Canaccord Genuity reiterated a “buy” rating and set a $14.00 price objective on shares of Celestica in a report on Friday, October 27th. TheStreet lowered Celestica from a “b” rating to a “c+” rating in a report on Thursday, November 9th. Finally, ValuEngine lowered Celestica from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $13.36.

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Celestica Company Profile

Celestica Inc is a provider of supply chain solutions. The Company operates in electronics manufacturing services business segment. The Company offers a range of services to its customers, including design and development, engineering services, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics and after-market repair and return services.

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