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

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

Celestica Trading Down 1.6 %

Celestica stock traded down $0.69 during mid-day trading on Tuesday, hitting $43.33. The company’s stock had a trading volume of 1,917,708 shares, compared to its average volume of 2,277,833. Celestica has a one year low of $10.50 and a one year high of $51.12. The stock has a market cap of $5.17 billion, a PE ratio of 16.17 and a beta of 2.22. The company has a 50 day moving average of $44.66 and a 200-day moving average of $34.60. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.78 and a current ratio of 1.42.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, topping 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 firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.08 billion. On average, research analysts anticipate that Celestica will post 2.59 EPS for the current year.

Hedge Funds Weigh In On Celestica

A number of hedge funds have recently added to or reduced their stakes in the stock. Clearstead Advisors LLC purchased a new stake in shares of Celestica in the third quarter valued at approximately $32,000. Principal Securities Inc. bought a new stake in Celestica during the 4th quarter valued at $42,000. Byrne Asset Management LLC lifted its holdings in shares of Celestica by 78.6% in the 1st quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock worth $56,000 after buying an additional 550 shares during the period. UMB Bank n.a. bought a new position in shares of Celestica during the 1st quarter worth $64,000. Finally, Covestor Ltd purchased a new position in shares of Celestica during the third quarter valued at $68,000. 67.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CLS shares. Royal Bank of Canada raised their price target on Celestica from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Sunday. TD Securities upped their price target 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. Stifel Nicolaus boosted their target price on shares of Celestica from $36.00 to $48.00 and gave the stock a “hold” rating in a report on Friday. CIBC reaffirmed a “neutral” rating and issued a $49.00 price target (up previously from $41.00) on shares of Celestica in a report on Friday. Finally, BMO Capital Markets lifted their price target on Celestica from $37.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Celestica currently has an average rating of “Moderate Buy” and a consensus price target of $42.25.

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.