Royal Bank of Canada Lowers Sierra Wireless (NASDAQ:SWIR) Price Target to $11.00

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) had its price target lowered by research analysts at Royal Bank of Canada from $12.00 to $11.00 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the communications equipment provider’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 24.15% from the company’s previous close.

SWIR has been the subject of several other research reports. ValuEngine lowered shares of Sierra Wireless from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 4th. National Bank Financial dropped their price target on shares of Sierra Wireless from $11.00 to $10.00 and set a “sector perform” rating for the company in a research report on Friday. Zacks Investment Research raised shares of Sierra Wireless from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 9th. TD Securities dropped their price target on shares of Sierra Wireless from $13.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Finally, CIBC reissued a “sell” rating and issued a $9.00 price objective on shares of Sierra Wireless in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $11.94.

SWIR stock traded down $0.68 on Friday, hitting $8.86. 80,713 shares of the company were exchanged, compared to its average volume of 184,759. Sierra Wireless has a twelve month low of $7.72 and a twelve month high of $14.55. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.51 and a quick ratio of 1.21. The business’s fifty day moving average is $9.79 and its two-hundred day moving average is $10.22. The stock has a market capitalization of $345.66 million, a price-to-earnings ratio of -5.03 and a beta of 1.81.

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in shares of Sierra Wireless by 30.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,316,000 shares of the communications equipment provider’s stock worth $12,568,000 after acquiring an additional 308,249 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Sierra Wireless by 1,122.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,027,803 shares of the communications equipment provider’s stock worth $9,816,000 after acquiring an additional 943,697 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Sierra Wireless by 0.3% in the second quarter. Vanguard Group Inc. now owns 865,583 shares of the communications equipment provider’s stock worth $10,456,000 after acquiring an additional 2,967 shares in the last quarter. PenderFund Capital Management Ltd. increased its position in shares of Sierra Wireless by 4.6% in the third quarter. PenderFund Capital Management Ltd. now owns 713,039 shares of the communications equipment provider’s stock worth $10,189,000 after acquiring an additional 31,499 shares in the last quarter. Finally, Horrell Capital Management Inc. boosted its stake in shares of Sierra Wireless by 9.7% in the third quarter. Horrell Capital Management Inc. now owns 565,000 shares of the communications equipment provider’s stock valued at $6,046,000 after purchasing an additional 50,000 shares during the period. 32.19% of the stock is owned by institutional investors.

Sierra Wireless Company Profile

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.

Featured Story: Stocks at 52 Week High

Analyst Recommendations for Sierra Wireless (NASDAQ:SWIR)

Receive News & Ratings for Sierra Wireless Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sierra Wireless and related companies with MarketBeat.com's FREE daily email newsletter.