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

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS was the recipient of a large growth in short interest in 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. Currently, 4.3% of the shares of the stock are short sold. Based on an average trading volume of 2,360,000 shares, the short-interest ratio is presently 2.1 days.

Hedge Funds Weigh In On Celestica

Several large investors have recently bought and sold shares of the company. Clearstead Advisors LLC bought a new stake in shares of Celestica during the third quarter worth about $32,000. Principal Securities Inc. bought a new stake in Celestica during the 4th quarter worth approximately $42,000. Byrne Asset Management LLC increased its position in Celestica by 78.6% in the 1st quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company's stock valued at $56,000 after acquiring an additional 550 shares during the period. UMB Bank n.a. acquired a new position in Celestica in the 1st quarter valued at approximately $64,000. Finally, Covestor Ltd bought 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.

Celestica Price Performance

CLS stock traded down $0.69 during trading on Tuesday, reaching $43.33. 1,917,708 shares of the company were exchanged, compared to its average volume of 2,277,833. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 16.17 and a beta of 2.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.78. The company has a 50-day moving average of $44.66 and a two-hundred day moving average of $34.60. Celestica has a twelve month low of $10.50 and a twelve month high of $51.12.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last announced its quarterly earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.08. Celestica had a net margin of 3.86% and a return on equity of 18.25%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.08 billion. As a group, equities analysts predict that Celestica will post 2.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. CIBC reissued a "neutral" rating and set a $49.00 target price (up from $41.00) on shares of Celestica in a report on Friday. Royal Bank of Canada increased their price objective on shares of Celestica from $47.00 to $53.00 and gave the stock an "outperform" rating in a research note on Sunday. StockNews.com cut shares of Celestica from a "buy" rating to a "hold" rating in a research report on Wednesday, February 28th. TD Securities increased their price target on shares of Celestica from $33.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, January 31st. Finally, Canaccord Genuity Group lifted 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. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Celestica 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.

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