Celestica Inc. (NYSE:CLS) Short Interest Up 8.8% in April

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 5,060,000 shares, an increase of 8.8% from the March 31st total of 4,650,000 shares. Currently, 4.3% of the company’s stock are short sold. Based on an average daily volume of 2,360,000 shares, the short-interest ratio is presently 2.1 days.

Institutional Investors Weigh In On Celestica

Institutional investors and hedge funds have recently made changes to their positions in the business. Byrne Asset Management LLC raised its holdings in shares of Celestica by 78.6% in 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 during the last quarter. Clearstead Advisors LLC purchased a new position in Celestica during the third quarter worth about $32,000. UMB Bank n.a. purchased a new position in Celestica during the first quarter worth about $64,000. Principal Securities Inc. purchased a new position in Celestica during the fourth quarter worth about $42,000. Finally, Blue Trust Inc. raised 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 purchasing an additional 1,384 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. TD Securities upped their price objective on shares of Celestica from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Royal Bank of Canada upped their price objective on shares of Celestica from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Sunday. CIBC restated a “neutral” rating and issued a $49.00 price objective (up previously from $41.00) on shares of Celestica in a research note on Friday, April 26th. StockNews.com downgraded shares of Celestica from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Finally, Canaccord Genuity Group upped their price objective on shares of Celestica from $48.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Celestica currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.25.

Celestica Price Performance

Shares of NYSE:CLS opened at $43.43 on Thursday. The company has a 50-day simple moving average of $44.90 and a 200-day simple moving average of $34.78. Celestica has a one year low of $10.50 and a one year high of $51.12. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.78 and a current ratio of 1.42. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 16.21 and a beta of 2.22.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Celestica had a net margin of 3.86% and a return on equity of 18.25%. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.08 billion. On average, analysts predict that Celestica will post 2.75 EPS for the current year.

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.