TD Securities Lowers Sierra Wireless (SWIR) Price Target to $14.50

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) had its target price reduced by TD Securities from $21.00 to $14.50 in a report issued on Thursday. They currently have a hold rating on the communications equipment provider’s stock.

Other equities analysts have also issued research reports about the stock. BidaskClub raised shares of Sierra Wireless from a hold rating to a buy rating in a research note on Thursday, November 15th. Canaccord Genuity raised their price objective on shares of Sierra Wireless from $28.00 to $32.00 and gave the stock a buy rating in a research note on Friday, November 9th. ValuEngine raised shares of Sierra Wireless from a sell rating to a hold rating in a research note on Thursday, November 1st. Zacks Investment Research raised shares of Sierra Wireless from a sell rating to a hold rating in a research note on Friday, December 14th. Finally, First Analysis lowered shares of Sierra Wireless from an outperform rating to a neutral rating and decreased their price objective for the stock from $25.00 to $12.00 in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $17.45.

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Sierra Wireless stock opened at $12.50 on Thursday. The company has a current ratio of 1.69, a quick ratio of 1.41 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $450.84 million, a price-to-earnings ratio of 62.00, a price-to-earnings-growth ratio of 1.40 and a beta of 2.39. Sierra Wireless has a 1 year low of $10.80 and a 1 year high of $22.58.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last posted its quarterly earnings data on Wednesday, February 13th. The communications equipment provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Sierra Wireless had a positive return on equity of 1.94% and a negative net margin of 3.10%. The firm had revenue of $201.40 million during the quarter, compared to analyst estimates of $204.94 million. During the same period in the prior year, the business posted $0.28 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Sell-side analysts predict that Sierra Wireless will post 0.92 earnings per share for the current year.

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its holdings 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 valued at $38,998,000 after acquiring an additional 1,084,575 shares during the period. Foundry Partners LLC purchased a new position in Sierra Wireless during the 3rd quarter valued at $5,259,000. Cornerstone Wealth Management LLC purchased a new position in Sierra Wireless during the 3rd quarter valued at $738,000. Palo Capital Inc. purchased a new position in Sierra Wireless during the 3rd quarter valued at $821,000. Finally, Victory Capital Management Inc. purchased a new position in Sierra Wireless during the 3rd quarter valued at $9,032,000. 28.51% of the stock is owned by institutional investors.

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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