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

Celestica Inc. (NYSE:CLS) (TSE:CLS) saw a large 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. Based on an average trading volume of 2,360,000 shares, the short-interest ratio is currently 2.1 days. Currently, 4.3% of the shares of the company are sold short.

Celestica Price Performance

NYSE:CLS opened at $43.43 on Thursday. Celestica has a 52 week low of $10.50 and a 52 week high of $51.12. The company has a quick ratio of 0.78, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $5.18 billion, a PE ratio of 16.21 and a beta of 2.22. The stock’s 50-day moving average price is $44.90 and its 200-day moving average price is $34.78.

Celestica (NYSE:CLS) (TSE:CLS) last posted 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 return on equity of 18.25% and a net margin of 3.86%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.08 billion. As a group, equities analysts expect that Celestica will post 2.75 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on CLS. Canaccord Genuity Group raised their target price on Celestica from $48.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. TD Securities lifted their price objective on Celestica from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. CIBC reiterated a “neutral” rating and set a $49.00 price objective (up previously from $41.00) on shares of Celestica in a research note on Friday, April 26th. BMO Capital Markets lifted their price objective on Celestica from $37.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Finally, Stifel Nicolaus lifted their price objective on Celestica from $36.00 to $48.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $42.25.

Institutional Investors Weigh In On Celestica

A number of institutional investors have recently modified their holdings of the business. Trexquant Investment LP grew its position in shares of Celestica by 0.6% during the 3rd quarter. Trexquant Investment LP now owns 88,491 shares of the technology company’s stock valued at $2,170,000 after acquiring an additional 502 shares during the period. Byrne Asset Management LLC boosted its holdings in 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 last quarter. Guardian Capital Advisors LP boosted its holdings in Celestica by 8.5% in the 4th quarter. Guardian Capital Advisors LP now owns 8,770 shares of the technology company’s stock worth $256,000 after buying an additional 685 shares during the last quarter. Clearstead Advisors LLC acquired a new stake in Celestica in the 3rd quarter worth about $32,000. Finally, Blue Trust Inc. boosted its holdings in Celestica by 128.6% in the 4th quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock worth $72,000 after buying an additional 1,384 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.