Sierra Wireless (SWIR) Lowered to “Sell” at CIBC

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

Several other equities research analysts also recently commented on the stock. Roth Capital set a $23.00 target price on shares of Sierra Wireless and gave the company a buy rating in a research note on Friday, August 3rd. Canaccord Genuity reaffirmed a buy rating on shares of Sierra Wireless in a research note on Friday, August 3rd. BidaskClub raised shares of Sierra Wireless from a sell rating to a hold rating in a research note on Thursday, September 13th. Royal Bank of Canada lowered their target price on shares of Sierra Wireless from $23.00 to $20.00 and set a sector perform rating for the company in a research note on Monday, July 30th. Finally, ValuEngine raised shares of Sierra Wireless from a sell rating to a hold rating in a research note on Thursday, November 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $23.22.

NASDAQ:SWIR traded down $3.70 during trading hours on Friday, hitting $16.02. The stock had a trading volume of 2,113,686 shares, compared to its average volume of 206,504. Sierra Wireless has a one year low of $15.10 and a one year high of $23.45. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.33 and a current ratio of 1.61. The company has a market capitalization of $712.31 million, a PE ratio of 27.62, a PEG ratio of 2.46 and a beta of 2.70.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last issued its earnings results on Thursday, November 8th. The communications equipment provider reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.03. Sierra Wireless had a negative net margin of 2.96% and a positive return on equity of 1.73%. The firm had revenue of $203.40 million during the quarter, compared to the consensus estimate of $202.20 million. During the same quarter in the prior year, the firm earned $0.23 earnings per share. The business’s quarterly revenue was up 17.8% on a year-over-year basis. On average, sell-side analysts forecast that Sierra Wireless will post 0.67 earnings per share for the current year.

Several hedge funds have recently modified their holdings of SWIR. Bank of Montreal Can increased its position in shares of Sierra Wireless by 16.3% during the second quarter. Bank of Montreal Can now owns 78,533 shares of the communications equipment provider’s stock worth $1,257,000 after acquiring an additional 10,991 shares in the last quarter. PenderFund Capital Management Ltd. increased its position in shares of Sierra Wireless by 27.9% during the second quarter. PenderFund Capital Management Ltd. now owns 709,440 shares of the communications equipment provider’s stock worth $15,899,000 after acquiring an additional 154,700 shares in the last quarter. Heathbridge Capital Management Ltd. increased its position in shares of Sierra Wireless by 0.6% during the second quarter. Heathbridge Capital Management Ltd. now owns 663,000 shares of the communications equipment provider’s stock worth $10,608,000 after acquiring an additional 4,000 shares in the last quarter. Horrell Capital Management Inc. increased its position in shares of Sierra Wireless by 35.7% during the second quarter. Horrell Capital Management Inc. now owns 285,000 shares of the communications equipment provider’s stock worth $4,560,000 after acquiring an additional 75,000 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Sierra Wireless by 80.2% during the second 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 acquiring an additional 1,084,575 shares in the last quarter. 25.59% of the stock is owned by institutional investors.

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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