Zacks Investment Research upgraded shares of MiX Telematics (NYSE:MIXT) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday. They currently have $20.00 target price on the technology company’s stock.
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. “
Several other equities research analysts also recently weighed in on the stock. ValuEngine raised shares of MiX Telematics from a hold rating to a buy rating in a report on Thursday, October 11th. Raymond James upped their price objective on shares of MiX Telematics from $24.00 to $28.00 and gave the stock a strong-buy rating in a report on Friday, December 7th.
Shares of MIXT opened at $17.33 on Thursday. The firm has a market cap of $391.26 million, a PE ratio of 29.88, a PEG ratio of 1.00 and a beta of 0.74. MiX Telematics has a 1 year low of $13.01 and a 1 year high of $21.00.
MiX Telematics (NYSE:MIXT) last posted its quarterly earnings data on Thursday, January 31st. The technology company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.05. The business had revenue of $35.73 million during the quarter, compared to the consensus estimate of $34.69 million. MiX Telematics had a net margin of 10.01% and a return on equity of 14.39%. Sell-side analysts expect that MiX Telematics will post 0.69 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the company. Disciplined Growth Investors Inc. MN increased its holdings in shares of MiX Telematics by 27.7% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,033,908 shares of the technology company’s stock valued at $14,930,000 after purchasing an additional 224,161 shares during the period. Acadian Asset Management LLC increased its holdings in shares of MiX Telematics by 3.1% in the 3rd quarter. Acadian Asset Management LLC now owns 944,181 shares of the technology company’s stock valued at $13,633,000 after purchasing an additional 28,407 shares during the period. RK Capital Management LLC acquired a new position in shares of MiX Telematics in the 3rd quarter valued at about $5,834,000. Millennium Management LLC grew its stake in shares of MiX Telematics by 153.4% in the 2nd quarter. Millennium Management LLC now owns 219,264 shares of the technology company’s stock valued at $3,885,000 after buying an additional 132,747 shares in the last quarter. Finally, Quantum Capital Management grew its stake in shares of MiX Telematics by 88.2% in the 3rd quarter. Quantum Capital Management now owns 190,181 shares of the technology company’s stock valued at $2,746,000 after buying an additional 89,112 shares in the last quarter. Institutional investors own 35.58% 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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