ValuEngine Upgrades Sierra Wireless (SWIR) to Hold

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Several other equities analysts have also recently weighed in on the company. Roth Capital set a $23.00 price target on Sierra Wireless and gave the company a “buy” rating in a report on Friday, August 3rd. Canaccord Genuity reissued a “buy” rating on shares of Sierra Wireless in a report on Friday, August 3rd. BidaskClub raised Sierra Wireless from a “sell” rating to a “hold” rating in a report on Thursday, September 13th. Royal Bank of Canada lowered their price target on Sierra Wireless from $23.00 to $20.00 and set a “sector perform” rating on the stock in a report on Monday, July 30th. Finally, National Bank Financial lowered their price target on Sierra Wireless from $22.00 to $20.00 and set a “$16.55” rating on the stock in a report on Monday, July 23rd. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $23.67.

SWIR traded down $0.20 during trading on Thursday, hitting $18.30. 214,366 shares of the company’s stock traded hands, compared to its average volume of 221,109. The company has a current ratio of 1.61, a quick ratio of 1.33 and a debt-to-equity ratio of 0.09. Sierra Wireless has a 12-month low of $15.10 and a 12-month high of $23.50. The company has a market cap of $647.78 million, a price-to-earnings ratio of 31.55, a P/E/G ratio of 2.24 and a beta of 2.69.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last issued its earnings results on Thursday, August 2nd. The communications equipment provider reported $0.27 EPS for the quarter, beating the consensus estimate of $0.21 by $0.06. The business had revenue of $201.90 million for the quarter, compared to the consensus estimate of $199.17 million. Sierra Wireless had a positive return on equity of 1.73% and a negative net margin of 2.96%. The company’s revenue was up 16.4% compared to the same quarter last year. During the same period last year, the business posted $0.30 EPS. As a group, research analysts forecast that Sierra Wireless will post 0.67 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its holdings in Sierra Wireless by 2.6% in the 2nd quarter. CIBC Asset Management Inc now owns 104,682 shares of the communications equipment provider’s stock worth $1,675,000 after purchasing an additional 2,608 shares during the period. Heathbridge Capital Management Ltd. raised its holdings in Sierra Wireless by 0.6% in the 2nd quarter. Heathbridge Capital Management Ltd. now owns 663,000 shares of the communications equipment provider’s stock worth $10,608,000 after purchasing an additional 4,000 shares during the period. Engineers Gate Manager LP raised its holdings in Sierra Wireless by 13.2% in the 3rd quarter. Engineers Gate Manager LP now owns 36,876 shares of the communications equipment provider’s stock worth $741,000 after purchasing an additional 4,288 shares during the period. Balter Liquid Alternatives LLC raised its holdings in Sierra Wireless by 21.0% in the 2nd quarter. Balter Liquid Alternatives LLC now owns 36,848 shares of the communications equipment provider’s stock worth $595,000 after purchasing an additional 6,385 shares during the period. Finally, Swiss National Bank raised its holdings in Sierra Wireless by 13.8% in the 2nd quarter. Swiss National Bank now owns 66,800 shares of the communications equipment provider’s stock worth $1,065,000 after purchasing an additional 8,100 shares during the period. 25.48% of the stock is currently owned by hedge funds and other institutional investors.

Sierra Wireless Company Profile

Sierra Wireless, Inc, together with its subsidiaries, engages in building the Internet of Things (IoT) with intelligent wireless solutions in North America, Europe, and the Asia Pacific. It operates in three segments: Original Equipment Manufacturer (OEM) Solutions, Enterprise Solutions, and Cloud and Connectivity Services.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Sierra Wireless (NASDAQ:SWIR)

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