CIBC Lowers Sierra Wireless (SWIR) to Sell

CIBC cut shares of Sierra Wireless (NASDAQ:SWIR) (TSE:SW) from a neutral rating to a sell rating in a research note issued to investors on Friday morning, The Fly reports. CIBC currently has $19.00 target price on the communications equipment provider’s stock.

Other equities research analysts have also issued reports about the stock. National Bank Financial decreased their price target on shares of Sierra Wireless from $22.00 to $20.00 and set a $16.55 rating on the stock in a report on Monday, July 23rd. Roth Capital set a $23.00 price target on shares of Sierra Wireless and gave the company a buy rating in a report on Friday, August 3rd. Canaccord Genuity reaffirmed a buy rating on shares of Sierra Wireless in a report on Friday, August 3rd. BidaskClub raised shares of Sierra Wireless from a sell rating to a hold rating in a report on Thursday, September 13th. Finally, ValuEngine raised shares of Sierra Wireless from a sell rating to a hold rating in a report on Wednesday, September 12th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Sierra Wireless currently has an average rating of Hold and a consensus target price of $23.22.

SWIR stock traded down $3.70 during mid-day trading on Friday, hitting $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 quick ratio of 1.33, a current ratio of 1.61 and a debt-to-equity ratio of 0.09. Sierra Wireless has a 52 week low of $15.10 and a 52 week high of $23.45. The firm has a market cap of $712.31 million, a P/E ratio of 27.62, a P/E/G ratio of 2.46 and a beta of 2.70.

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

A number of large investors have recently bought and sold shares of SWIR. Bank of Montreal Can boosted its position in Sierra Wireless by 16.3% during the 2nd quarter. Bank of Montreal Can now owns 78,533 shares of the communications equipment provider’s stock worth $1,257,000 after buying an additional 10,991 shares during the period. PenderFund Capital Management Ltd. boosted its position in Sierra Wireless by 27.9% during the 2nd quarter. PenderFund Capital Management Ltd. now owns 709,440 shares of the communications equipment provider’s stock worth $15,899,000 after buying an additional 154,700 shares during the period. Heathbridge Capital Management Ltd. boosted its position in Sierra Wireless by 0.6% during the 2nd quarter. Heathbridge Capital Management Ltd. now owns 663,000 shares of the communications equipment provider’s stock worth $10,608,000 after buying an additional 4,000 shares during the period. Horrell Capital Management Inc. boosted its position in Sierra Wireless by 35.7% during the 2nd quarter. Horrell Capital Management Inc. now owns 285,000 shares of the communications equipment provider’s stock worth $4,560,000 after buying an additional 75,000 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Sierra Wireless by 80.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,437,397 shares of the communications equipment provider’s stock worth $38,998,000 after buying an additional 1,084,575 shares during the period. Institutional investors and hedge funds own 25.59% of the company’s stock.

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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Analyst Recommendations for Sierra Wireless (NASDAQ:SWIR)

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