Sierra Wireless, Inc. (SWIR) Rating Increased to Overweight at First Analysis
Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) was upgraded by research analysts at First Analysis from an “equal weight” rating to an “overweight” rating in a note issued to investors on Friday. The firm presently has a $27.00 target price on the stock. First Analysis’ price target points to a potential upside of 2.96% from the company’s current price.
SWIR has been the topic of several other reports. RBC Capital Markets restated a “sector perform” rating and set a $20.00 price target on shares of Sierra Wireless in a research report on Tuesday, November 1st. Zacks Investment Research lowered Sierra Wireless from a “buy” rating to a “hold” rating in a research report on Thursday, January 5th. Jefferies Group LLC restated a “hold” rating and set a $13.50 price target on shares of Sierra Wireless in a research report on Friday, November 4th. Raymond James Financial, Inc. upgraded Sierra Wireless from a “market perform” rating to a “buy” rating in a research report on Monday, January 23rd. Finally, BMO Capital Markets restated a “neutral” rating on shares of Sierra Wireless in a research report on Friday, February 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Sierra Wireless currently has a consensus rating of “Hold” and an average price target of $20.25.
Sierra Wireless (NASDAQ:SWIR) traded up 2.242% on Friday, hitting $26.225. The stock had a trading volume of 591,742 shares. Sierra Wireless has a 52 week low of $11.50 and a 52 week high of $26.50. The company has a market capitalization of $826.19 million, a price-to-earnings ratio of 54.635 and a beta of 1.90. The firm has a 50-day moving average of $18.22 and a 200 day moving average of $15.58.
Sierra Wireless (NASDAQ:SWIR) last released its quarterly earnings results on Thursday, February 9th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.11. Sierra Wireless had a return on equity of 6.87% and a net margin of 2.50%. The company had revenue of $163 million for the quarter, compared to analyst estimates of $161.06 million. During the same period in the previous year, the company posted $0.08 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. On average, analysts predict that Sierra Wireless will post $0.83 earnings per share for the current year.
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A number of large investors have recently added to or reduced their stakes in the company. Oxford Asset Management bought a new stake in Sierra Wireless during the fourth quarter valued at approximately $567,000. Armor Investment Advisors LLC bought a new stake in Sierra Wireless during the fourth quarter valued at approximately $206,000. Cutter & CO Brokerage Inc. bought a new stake in Sierra Wireless during the fourth quarter valued at approximately $241,000. Russell Investments Group Ltd. bought a new stake in Sierra Wireless during the fourth quarter valued at approximately $1,454,000. Finally, CIBC World Markets Inc. increased its stake in Sierra Wireless by 8.9% in the third quarter. CIBC World Markets Inc. now owns 21,839 shares of the company’s stock valued at $315,000 after buying an additional 1,792 shares during the period. 22.27% of the stock is currently owned by institutional investors and hedge funds.
Sierra Wireless Company Profile
Sierra Wireless, Inc offers second generation (2G), third generation (3G) and fourth generation (4G) cellular embedded wireless modules and gateways. The Company offers products to original equipment manufacturers (OEMs) and enterprises. It operates through three segments: OEM Solutions, Enterprise Solutions, and Cloud and Connectivity Services.
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