WCM Investment Management LLC Decreases Stock Holdings in Celestica Inc. (NYSE:CLS)

WCM Investment Management LLC lowered its holdings in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 16.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,211,077 shares of the technology company's stock after selling 434,973 shares during the period. WCM Investment Management LLC owned approximately 1.86% of Celestica worth $112,942,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CLS. Optimum Investment Advisors raised its holdings in Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company's stock worth $26,000 after buying an additional 200 shares during the last quarter. Financial Management Professionals Inc. purchased a new position in shares of Celestica during the third quarter valued at approximately $30,000. UMB Bank n.a. purchased a new position in shares of Celestica during the third quarter valued at approximately $34,000. Wolff Wiese Magana LLC raised its holdings in shares of Celestica by 32.1% during the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company's stock valued at $40,000 after purchasing an additional 170 shares during the last quarter. Finally, Global Trust Asset Management LLC purchased a new stake in Celestica during the third quarter valued at approximately $51,000. Institutional investors own 67.38% of the company's stock.

Celestica Price Performance

Shares of CLS traded down $1.22 during mid-day trading on Monday, reaching $84.63. The stock had a trading volume of 2,107,326 shares, compared to its average volume of 2,286,344. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The business has a fifty day moving average of $57.66 and a 200 day moving average of $54.81. Celestica Inc. has a 12 month low of $25.21 and a 12 month high of $87.99. The firm has a market cap of $10.04 billion, a price-to-earnings ratio of 26.87 and a beta of 2.24.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued its earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.11. Celestica had a net margin of 4.08% and a return on equity of 21.58%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. Celestica's revenue for the quarter was up 24.8% on a year-over-year basis. Equities analysts predict that Celestica Inc. will post 3.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. TD Cowen upped their target price on shares of Celestica from $68.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, October 24th. BMO Capital Markets upped their target price on shares of Celestica from $64.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Stifel Nicolaus upped their target price on shares of Celestica from $58.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, October 24th. TD Securities upped their target price on shares of Celestica from $68.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Finally, Barclays assumed coverage on shares of Celestica in a report on Tuesday, November 5th. They set an "overweight" rating and a $91.00 target price for the company. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Celestica presently has an average rating of "Moderate Buy" and an average target price of $69.10.

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.