Tobam Lowers Position in Celestica Inc. (NYSE:CLS)

Tobam lowered its holdings in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 87.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,036 shares of the technology company's stock after selling 69,785 shares during the quarter. Tobam's holdings in Celestica were worth $295,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Celestica by 50.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,094,994 shares of the technology company's stock valued at $149,153,000 after purchasing an additional 2,054,918 shares in the last quarter. Shannon River Fund Management LLC acquired a new position in Celestica during the third quarter worth $41,565,000. SG Capital Management LLC acquired a new stake in shares of Celestica during the 3rd quarter worth approximately $29,939,000. Norges Bank acquired a new stake in Celestica during the fourth quarter worth $11,360,000. Finally, Millennium Management LLC increased its position in shares of Celestica by 64.7% during the 4th quarter. Millennium Management LLC now owns 2,256,206 shares of the technology company's stock worth $25,428,000 after purchasing an additional 885,919 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

Celestica Price Performance

Shares of Celestica stock traded down $0.04 during mid-day trading on Thursday, reaching $46.02. 1,373,756 shares of the stock were exchanged, compared to its average volume of 2,202,821. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 22.67 and a beta of 2.22. The firm has a 50-day simple moving average of $43.26 and a 200 day simple moving average of $32.89. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.41. Celestica Inc. has a fifty-two week low of $10.50 and a fifty-two week high of $51.12.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued 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 3.07% and a return on equity of 17.09%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.08 billion. On average, sell-side analysts predict that Celestica Inc. will post 2.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CLS has been the topic of a number of recent research reports. TD Securities lifted their target price on shares of Celestica from $33.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, January 31st. BMO Capital Markets lifted their price objective on Celestica from $32.00 to $37.00 and gave the company an "outperform" rating in a research note on Wednesday, January 31st. StockNews.com lowered Celestica from a "buy" rating to a "hold" rating in a research report on Wednesday, February 28th. Royal Bank of Canada increased their price objective on shares of Celestica from $33.00 to $38.00 and gave the company an "outperform" rating in a research note on Wednesday, January 31st. Finally, Canaccord Genuity Group raised their price target on Celestica from $32.50 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.88.

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.