Sierra Wireless (SW) Stock Rating Lowered by National Bank Financial

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Sierra Wireless (TSE:SW) (NASDAQ:SWIR) was downgraded by research analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a research report issued on Thursday, May 31st. They currently have a C$22.00 target price on the stock, down from their prior target price of C$32.00. National Bank Financial’s price target points to a potential upside of 3.43% from the company’s previous close.

Shares of TSE:SW traded down C$0.35 during midday trading on Thursday, hitting C$21.27. 154,067 shares of the company’s stock were exchanged, compared to its average volume of 130,707. Sierra Wireless has a 12 month low of C$19.06 and a 12 month high of C$40.31.

Sierra Wireless (TSE:SW) (NASDAQ:SWIR) last posted its earnings results on Thursday, May 3rd. The company reported C$0.01 EPS for the quarter, missing the consensus estimate of C$0.08 by C($0.07). The business had revenue of C$236.24 million for the quarter, compared to the consensus estimate of C$232.68 million. Sierra Wireless had a negative return on equity of 3.30% and a negative net margin of 1.92%.

In other Sierra Wireless news, Director Kent Paul Thexton sold 1,213 shares of the company’s stock in a transaction dated Friday, May 25th. The shares were sold at an average price of C$23.09, for a total value of C$28,008.17. Also, Director Jason W. Cohenour sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of C$18.25, for a total transaction of C$91,250.00. Insiders sold a total of 32,190 shares of company stock valued at $584,304 over the last ninety days.

About Sierra Wireless

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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