Zacks Investment Research upgraded shares of MiX Telematics (NYSE:MIXT) from a strong sell rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.
According to Zacks, “MiX Telematics Limited provides fleet and mobile asset management solutions. It offers vehicle tracking services for the consumer and commercial vehicle market worldwide. Mix’s products and services provide enterprise fleets, small fleets and consumers with solutions for safety, efficiency and security. The Company’s products includes Trailer Tracking, MiX Rovi, Beam-e, Matrix MX3, Matrix MX2, Matrix MX1, FM Tracer (FM3316i), FM Protector/MiX 3000, FM-Web, MiX Insight Analyser, Matrix Internet Tracking, MiX DriveTime, MiX Mobile, MiX Track, FM Wireless Kit, FM Voice Kit and FM Sat Comms. MiX Telematics Limited is based in Midrand, South Africa. “
Separately, ValuEngine raised shares of MiX Telematics from a sell rating to a hold rating in a research report on Thursday, October 31st.
MIXT stock opened at $12.97 on Wednesday. The firm has a market cap of $292.86 million, a price-to-earnings ratio of 17.29, a PEG ratio of 0.69 and a beta of 0.81. The firm has a 50-day simple moving average of $12.39 and a two-hundred day simple moving average of $13.77. MiX Telematics has a one year low of $11.96 and a one year high of $20.07.
MiX Telematics (NYSE:MIXT) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.01). The firm had revenue of $35.50 million for the quarter, compared to analysts’ expectations of $37.45 million. MiX Telematics had a net margin of 11.80% and a return on equity of 15.49%. As a group, sell-side analysts expect that MiX Telematics will post 0.76 EPS for the current year.
Several large investors have recently bought and sold shares of MIXT. Boston Partners grew its holdings in shares of MiX Telematics by 26.1% during the third quarter. Boston Partners now owns 93,284 shares of the technology company’s stock valued at $1,301,000 after buying an additional 19,322 shares during the last quarter. Granahan Investment Management Inc. MA lifted its position in MiX Telematics by 114.9% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 83,186 shares of the technology company’s stock worth $1,160,000 after acquiring an additional 44,474 shares during the period. Russell Investments Group Ltd. lifted its position in MiX Telematics by 31.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 323,564 shares of the technology company’s stock worth $4,521,000 after acquiring an additional 76,510 shares during the period. Mackenzie Financial Corp lifted its position in MiX Telematics by 86.7% during the 2nd quarter. Mackenzie Financial Corp now owns 87,798 shares of the technology company’s stock worth $1,320,000 after acquiring an additional 40,777 shares during the period. Finally, Aperio Group LLC acquired a new stake in MiX Telematics during the 2nd quarter worth about $53,000. Institutional investors and hedge funds own 38.11% of the company’s stock.
MiX Telematics Company Profile
MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service delivery model. The company offers fleet solutions, including MiX Fleet Manager Premium that provides access to secure information about drivers and vehicles; MiX Fleet Manager Essential for monitoring drivers and vehicles; and MiX Asset Manager, a solution for fleet owners and managers to track and monitor vehicles.
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