Sierra Wireless (SWIR) Price Target Raised to $32.00 at Canaccord Genuity

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Sierra Wireless (NASDAQ:SWIR) (TSE:SW) had its price target boosted by Canaccord Genuity from $28.00 to $32.00 in a report released on Friday, The Fly reports. The brokerage currently has a buy rating on the communications equipment provider’s stock.

A number of other analysts have also weighed in on the stock. CIBC lowered shares of Sierra Wireless from a neutral rating to a sell rating and set a $19.00 price objective on the stock. in a research report on Friday. First Analysis lowered shares of Sierra Wireless from a strong-buy rating to an outperform rating and reduced their target price for the stock from $31.00 to $25.00 in a research report on Friday. ValuEngine raised shares of Sierra Wireless from a sell rating to a hold rating in a research report on Thursday, November 1st. BidaskClub raised shares of Sierra Wireless from a sell rating to a hold rating in a research report on Tuesday, October 16th. Finally, Roth Capital set a $23.00 target price on shares of Sierra Wireless and gave the stock a buy rating in a research report on Friday, August 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $23.22.

Sierra Wireless stock traded down $3.70 during midday trading on Friday, reaching $16.02. The stock had a trading volume of 2,113,686 shares, compared to its average volume of 206,504. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.61 and a quick ratio of 1.33. Sierra Wireless has a 52-week low of $15.10 and a 52-week high of $23.45. The firm has a market capitalization of $712.31 million, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 2.46 and a beta of 2.70.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last posted its quarterly earnings data on Thursday, November 8th. The communications equipment provider reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.03. Sierra Wireless had a negative net margin of 2.96% and a positive return on equity of 1.73%. The company had revenue of $203.40 million for the quarter, compared to analyst estimates of $202.20 million. During the same period in the prior year, the company posted $0.23 EPS. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. Research analysts anticipate that Sierra Wireless will post 0.67 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of SWIR. Brandes Investment Partners LP increased its holdings in Sierra Wireless by 28.4% during the third quarter. Brandes Investment Partners LP now owns 22,828 shares of the communications equipment provider’s stock valued at $459,000 after buying an additional 5,055 shares during the period. Insight 2811 Inc. purchased a new position in Sierra Wireless during the third quarter valued at approximately $202,000. Wells Fargo & Company MN increased its holdings in Sierra Wireless by 400.8% during the third quarter. Wells Fargo & Company MN now owns 72,663 shares of the communications equipment provider’s stock valued at $1,461,000 after buying an additional 58,154 shares during the period. Engineers Gate Manager LP increased its holdings in Sierra Wireless by 13.2% during the third quarter. Engineers Gate Manager LP now owns 36,876 shares of the communications equipment provider’s stock valued at $741,000 after buying an additional 4,288 shares during the period. Finally, Heathbridge Capital Management Ltd. increased its holdings in Sierra Wireless by 10.7% during the third quarter. Heathbridge Capital Management Ltd. now owns 734,200 shares of the communications equipment provider’s stock valued at $14,764,000 after buying an additional 71,200 shares during the period. 25.59% of the stock is currently owned by institutional investors and hedge funds.

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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