Sierra Wireless’ (SWIR) “Outperform” Rating Reiterated at Raymond James

Raymond James restated their outperform rating on shares of Sierra Wireless (NASDAQ:SWIR) (TSE:SW) in a research report released on Thursday, BayStreet.CA reports. Raymond James currently has a $20.00 price target on the communications equipment provider’s stock.

A number of other equities research analysts have also recently commented on the stock. National Bank Financial decreased their target price on shares of Sierra Wireless from $15.00 to $12.50 and set a sector perform rating on the stock in a research note on Thursday. BidaskClub cut shares of Sierra Wireless from a hold rating to a sell rating in a research note on Wednesday, June 19th. TD Securities decreased their target price on shares of Sierra Wireless from $14.50 to $13.00 and set a hold rating on the stock in a research note on Thursday. Zacks Investment Research cut shares of Sierra Wireless from a hold rating to a strong sell rating in a research note on Thursday, May 16th. Finally, ValuEngine cut shares of Sierra Wireless from a hold rating to a sell rating in a research note on Friday, July 12th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Sierra Wireless has a consensus rating of Hold and an average target price of $15.64.

Shares of SWIR traded up $0.13 on Thursday, reaching $12.07. The company’s stock had a trading volume of 220,164 shares, compared to its average volume of 150,023. The company has a current ratio of 1.52, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average price is $11.91. Sierra Wireless has a 12-month low of $10.80 and a 12-month high of $22.58.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last posted its quarterly earnings data on Wednesday, July 31st. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.02). Sierra Wireless had a negative net margin of 5.75% and a positive return on equity of 0.02%. The company had revenue of $191.37 million for the quarter, compared to the consensus estimate of $191.95 million. During the same quarter last year, the firm posted $0.27 earnings per share. The firm’s revenue was down 5.2% compared to the same quarter last year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cutter & CO Brokerage Inc. acquired a new position in shares of Sierra Wireless during the second quarter valued at about $340,000. PenderFund Capital Management Ltd. increased its holdings in shares of Sierra Wireless by 18.0% during the second quarter. PenderFund Capital Management Ltd. now owns 681,540 shares of the communications equipment provider’s stock valued at $10,673,000 after acquiring an additional 103,800 shares in the last quarter. Aperio Group LLC acquired a new position in shares of Sierra Wireless during the second quarter valued at about $43,000. Horrell Capital Management Inc. increased its holdings in shares of Sierra Wireless by 5.1% during the second quarter. Horrell Capital Management Inc. now owns 515,000 shares of the communications equipment provider’s stock valued at $6,221,000 after acquiring an additional 25,000 shares in the last quarter. Finally, Atlas Capital Advisors LLC acquired a new position in shares of Sierra Wireless during the second quarter valued at about $36,000. Institutional investors own 26.79% of the company’s stock.

About Sierra Wireless

Sierra Wireless, Inc, together with its subsidiaries, manufactures and sells cellular wireless devices, and provide services in the wireless communications and information technology industry in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its Original Equipment Manufacturer (OEM) Solutions segment offers embedded cellular modules, short range wireless modules, global navigation satellite system modules, software, and tools to integrate wireless connectivity into various products and solutions for OEM customers, including the embedded wireless modules product portfolio; cloud-based remote device and data management solutions; and Legato, an open source Linux-based platform.

Further Reading: Fundamental Analysis

Analyst Recommendations for Sierra Wireless (NASDAQ:SWIR)

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