Zacks Investment Research Upgrades Sierra Wireless Inc. (SWIR) to “Buy”
Sierra Wireless Inc. (NASDAQ:SWIR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $17.00 target price on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 10.39% from the company’s previous close.
According to Zacks, “Sierra Wireless, Inc. is a leading provider of wireless data communications products. The company delivers wireless PC Cards for portable computers, wireless adapters for PDA’s, OEM modules for embedded applications and rugged vehicle-mounted wireless systems. The company is the founding member of the WirelessReady Alliance, an alliance of industry-leading hardware, software and service companies committed to the delivery of complete and compelling wireless data solutions. “
Several other equities research analysts have also commented on SWIR. BMO Capital Markets restated a “hold” rating on shares of Sierra Wireless in a research note on Sunday, November 6th. Jefferies Group reiterated a “hold” rating and issued a $13.50 price target on shares of Sierra Wireless in a research note on Friday, November 4th. RBC Capital Markets reiterated a “sector perform” rating and issued a $20.00 price target on shares of Sierra Wireless in a research note on Tuesday, November 1st. Canaccord Genuity reiterated a “buy” rating and issued a $17.00 price target on shares of Sierra Wireless in a research note on Monday, September 12th. Finally, National Bank Financial started coverage on Sierra Wireless in a research note on Tuesday, September 27th. They issued a “sector perform” rating and a $16.00 price target for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Sierra Wireless presently has an average rating of “Hold” and an average target price of $16.95.
Shares of Sierra Wireless (NASDAQ:SWIR) opened at 15.40 on Thursday. Sierra Wireless has a 1-year low of $9.69 and a 1-year high of $20.28. The company’s market cap is $488.10 million. The stock has a 50 day moving average price of $13.91 and a 200-day moving average price of $15.95.
Sierra Wireless (NASDAQ:SWIR) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.09 by $0.04. The firm earned $153.60 million during the quarter, compared to analyst estimates of $150.80 million. Sierra Wireless had a positive return on equity of 1.70% and a negative net margin of 0.12%. Sierra Wireless’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 EPS. Equities research analysts forecast that Sierra Wireless will post $0.58 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. PineBridge Investments L.P. acquired a new position in shares of Sierra Wireless during the second quarter worth approximately $161,000. WealthTrust Axiom LLC acquired a new position in shares of Sierra Wireless during the second quarter worth approximately $180,000. Advisor Group Inc. acquired a new position in shares of Sierra Wireless during the second quarter worth approximately $215,000. NEXT Financial Group Inc increased its position in shares of Sierra Wireless by 935.5% in the third quarter. NEXT Financial Group Inc now owns 13,347 shares of the company’s stock worth $192,000 after buying an additional 12,058 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Sierra Wireless during the second quarter worth approximately $249,000. 20.61% of the stock is owned by hedge funds and other institutional investors.
About Sierra Wireless
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.
Receive News & Stock Ratings for Sierra Wireless Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sierra Wireless Inc. and related stocks with our FREE daily email newsletter.