WCM Investment Management LLC Makes New $67.83 Million Investment in Celestica Inc. (NYSE:CLS)

WCM Investment Management LLC purchased a new position in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,292,409 shares of the technology company's stock, valued at approximately $67,832,000. WCM Investment Management LLC owned about 1.92% of Celestica as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Celestica during the third quarter worth approximately $1,422,000. Jetstream Capital LLC acquired a new stake in Celestica during the third quarter worth approximately $2,452,000. American Century Companies Inc. raised its holdings in Celestica by 82.4% during the third quarter. American Century Companies Inc. now owns 374,693 shares of the technology company's stock worth $9,170,000 after purchasing an additional 169,277 shares in the last quarter. Financial Management Professionals Inc. acquired a new stake in Celestica during the third quarter worth approximately $34,000. Finally, Vanguard Group Inc. raised its holdings in Celestica by 1.3% during the third quarter. Vanguard Group Inc. now owns 3,704,369 shares of the technology company's stock worth $90,831,000 after purchasing an additional 47,619 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CLS shares. StockNews.com cut shares of Celestica from a "buy" rating to a "hold" rating in a report on Wednesday, February 28th. 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 report on Wednesday, January 31st. Canaccord Genuity Group upped their target price on shares of Celestica from $32.50 to $38.00 and gave the company a "buy" rating in a report on Wednesday, January 31st. CIBC upped their target price on shares of Celestica from $33.00 to $41.00 and gave the company an "outperform" rating in a report on Wednesday, January 31st. Finally, BMO Capital Markets upped their target price on shares of Celestica from $32.00 to $37.00 and gave the company an "outperform" rating in a report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $33.88.

Celestica Stock Performance

Shares of NYSE:CLS traded down $1.28 on Friday, reaching $44.74. The company's stock had a trading volume of 1,691,606 shares, compared to its average volume of 1,859,442. The stock has a market capitalization of $5.34 billion, a P/E ratio of 22.04 and a beta of 2.22. Celestica Inc. has a 52-week low of $10.50 and a 52-week high of $51.12. The stock's 50-day moving average is $43.43 and its two-hundred day moving average is $33.11. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.40 and a quick ratio of 0.75.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last posted 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. The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.08 billion. Celestica had a net margin of 3.07% and a return on equity of 17.09%. As a group, sell-side analysts forecast that Celestica Inc. will post 2.59 EPS for the current year.

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.