B. Riley Initiates Coverage on Sierra Wireless (NASDAQ:SWIR)


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Investment analysts at B. Riley began coverage on shares of Sierra Wireless (NASDAQ:SWIR) (TSE:SW) in a note issued to investors on Thursday, Briefing.com reports. The brokerage set a “buy” rating and a $23.50 price target on the communications equipment provider’s stock. B. Riley’s price objective would suggest a potential upside of 41.23% from the company’s current price.

Several other equities research analysts also recently commented on the company. National Bank Financial reiterated a “sector perform overweight” rating on shares of Sierra Wireless in a report on Monday, October 26th. Canaccord Genuity reissued a “buy” rating and set a $14.00 target price on shares of Sierra Wireless in a research report on Friday, November 13th. Colliers Securities reaffirmed a “buy” rating on shares of Sierra Wireless in a report on Friday, December 11th. Zacks Investment Research raised shares of Sierra Wireless from a “sell” rating to a “hold” rating in a research note on Saturday, December 12th. Finally, Raymond James set a $13.00 price objective on shares of Sierra Wireless and gave the company a “market perform” rating in a research report on Friday, November 13th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Sierra Wireless presently has a consensus rating of “Hold” and an average target price of $13.95.

SWIR opened at $16.64 on Thursday. Sierra Wireless has a 52-week low of $4.31 and a 52-week high of $17.40. The company has a 50 day moving average of $14.92 and a two-hundred day moving average of $12.11. The company has a market cap of $607.23 million, a P/E ratio of -8.71 and a beta of 2.37. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.13.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last announced its quarterly earnings results on Thursday, November 12th. The communications equipment provider reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.10). Sierra Wireless had a negative return on equity of 11.20% and a negative net margin of 10.68%. The business had revenue of $113.37 million for the quarter, compared to analysts’ expectations of $156.40 million. Research analysts anticipate that Sierra Wireless will post -1.37 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of the stock. Schonfeld Strategic Advisors LLC bought a new position in Sierra Wireless during the 3rd quarter worth about $193,000. FMR LLC acquired a new position in Sierra Wireless during the second quarter worth $648,000. Morgan Stanley grew its holdings in Sierra Wireless by 240.2% in the 1st quarter. Morgan Stanley now owns 490,465 shares of the communications equipment provider’s stock valued at $2,786,000 after buying an additional 346,313 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Sierra Wireless by 1,054.7% in the 2nd quarter. Bank of Montreal Can now owns 8,660 shares of the communications equipment provider’s stock worth $76,000 after acquiring an additional 7,910 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of Sierra Wireless during the 3rd quarter worth $194,000. 45.53% of the stock is currently owned by institutional investors and hedge funds.

About Sierra Wireless

Sierra Wireless, Inc, together with its subsidiaries, provides device-to-cloud Internet Of Things (IoT) solutions primarily in North America, Europe, and the Asia Pacific. The company operates through two segments, IoT Solutions and Embedded Broadband. The IoT Solutions segment offers recurring connectivity services, cloud management software, and cellular modules and gateways.

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