Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) was upgraded by research analysts at Scotiabank from an “underperform” rating to a “sector perform” rating in a report released on Thursday. The brokerage presently has a $28.25 price target on the communications equipment provider’s stock. Scotiabank’s price objective suggests a potential upside of 31.40% from the stock’s previous close.

Several other equities research analysts have also commented on SWIR. TD Securities initiated coverage on shares of Sierra Wireless in a research report on Tuesday, May 30th. They set a “hold” rating for the company. Zacks Investment Research lowered shares of Sierra Wireless from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. BidaskClub lowered shares of Sierra Wireless from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. TheStreet raised shares of Sierra Wireless from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. Finally, Macquarie raised shares of Sierra Wireless from an “underperform” rating to a “neutral” rating and upped their price target for the company from $12.30 to $23.00 in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. Sierra Wireless currently has an average rating of “Hold” and a consensus price target of $26.52.

Shares of Sierra Wireless (NASDAQ:SWIR) traded up 0.70% during trading on Thursday, reaching $21.65. 210,638 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $22.73 and a 200 day moving average price of $26.57. Sierra Wireless has a 12 month low of $12.30 and a 12 month high of $31.95. The firm has a market cap of $691.70 million, a price-to-earnings ratio of 33.99 and a beta of 3.11.

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Several large investors have recently made changes to their positions in the stock. Scotia Capital Inc. grew its stake in shares of Sierra Wireless by 76.3% during the 2nd quarter. Scotia Capital Inc. now owns 15,252 shares of the communications equipment provider’s stock valued at $427,000 after acquiring an additional 6,599 shares during the period. Bank of Nova Scotia bought a new position in shares of Sierra Wireless during the 2nd quarter valued at approximately $266,000. Royal Bank of Canada grew its stake in shares of Sierra Wireless by 9.6% during the 2nd quarter. Royal Bank of Canada now owns 50,802 shares of the communications equipment provider’s stock valued at $1,428,000 after acquiring an additional 4,464 shares during the period. HighTower Advisors LLC grew its stake in shares of Sierra Wireless by 9.3% during the 2nd quarter. HighTower Advisors LLC now owns 8,230 shares of the communications equipment provider’s stock valued at $230,000 after acquiring an additional 700 shares during the period. Finally, PDT Partners LLC bought a new position in shares of Sierra Wireless during the 2nd quarter valued at approximately $275,000. Institutional investors own 25.00% of the company’s stock.

Sierra Wireless Company Profile

Sierra Wireless, Inc is engaged in building the Internet of Things (IoT) with wireless solutions for organizations. The Company’s OEM Solution segment offers cellular embedded wireless modules for IoT connectivity, including an embedded application framework to support customer applications. The Company’s Enterprise Solution segment offers intelligent routers and gateways, including management tools and applications that enable cellular connectivity.

Analyst Recommendations for Sierra Wireless (NASDAQ:SWIR)

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