MiX Telematics Limited (NYSE:MIXT) has earned an average recommendation of “Hold” from the six analysts that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $13.00.
A number of research firms have recently weighed in on MIXT. Canaccord Genuity lifted their price target on shares of MiX Telematics Limited from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Friday. ValuEngine downgraded shares of MiX Telematics Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Zacks Investment Research downgraded shares of MiX Telematics Limited from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 26th. Finally, TheStreet upgraded shares of MiX Telematics Limited from a “c+” rating to a “b-” rating in a research report on Tuesday, July 11th.
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A number of large investors have recently made changes to their positions in MIXT. Raymond James Financial Services Advisors Inc. bought a new position in MiX Telematics Limited in the third quarter valued at approximately $103,000. Smith Asset Management Group LP bought a new position in MiX Telematics Limited in the third quarter valued at approximately $114,000. Russell Investments Group Ltd. increased its stake in MiX Telematics Limited by 105.6% in the first quarter. Russell Investments Group Ltd. now owns 19,495 shares of the technology company’s stock valued at $123,000 after acquiring an additional 10,015 shares during the last quarter. New York State Common Retirement Fund increased its stake in MiX Telematics Limited by 47.6% in the second quarter. New York State Common Retirement Fund now owns 20,794 shares of the technology company’s stock valued at $164,000 after acquiring an additional 6,708 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in MiX Telematics Limited by 84.4% in the second quarter. JPMorgan Chase & Co. now owns 23,844 shares of the technology company’s stock valued at $188,000 after acquiring an additional 10,912 shares during the last quarter. 20.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of MiX Telematics Limited (NYSE:MIXT) traded up $0.83 during mid-day trading on Wednesday, hitting $10.86. 54,867 shares of the company were exchanged, compared to its average volume of 70,223. The company has a market capitalization of $234.57 million, a PE ratio of 25.61, a PEG ratio of 1.35 and a beta of 0.81.
MiX Telematics Limited (NYSE:MIXT) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. MiX Telematics Limited had a net margin of 7.73% and a return on equity of 9.07%. The company had revenue of $31.08 million during the quarter, compared to the consensus estimate of $31.22 million. research analysts expect that MiX Telematics Limited will post 0.39 earnings per share for the current fiscal year.
About MiX Telematics Limited
MiX Telematics Limited is a South Africa-based provider of fleet and mobile asset management solutions delivered as Software-as-a-Service (SaaS) to customers. The Company’s operating segments include Africa, Europe, Americas, Middle East and Australasia, Brazil and Central Services Organization. The Company’s products and services provide enterprise fleets, small fleets and consumers with solutions for safety, risk management and security.
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