Canaccord Genuity Reiterates “Buy” Rating for MiX Telematics (NYSE:MIXT)

MiX Telematics (NYSE:MIXT)‘s stock had its “buy” rating restated by investment analysts at Canaccord Genuity in a research report issued on Thursday, AnalystRatings.com reports. They presently have a $18.00 price target on the technology company’s stock. Canaccord Genuity’s target price points to a potential upside of 77.17% from the company’s previous close.

Several other equities analysts have also weighed in on MIXT. Zacks Investment Research raised MiX Telematics from a “sell” rating to a “hold” rating in a report on Thursday. Oppenheimer reiterated a “hold” rating on shares of MiX Telematics in a research note on Thursday, May 28th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.67.

NYSE MIXT opened at $10.16 on Thursday. The business’s fifty day moving average is $8.94 and its 200-day moving average is $10.24. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.94 and a quick ratio of 1.82. The stock has a market capitalization of $228.74 million, a price-to-earnings ratio of 17.77 and a beta of 1.02. MiX Telematics has a one year low of $6.64 and a one year high of $15.35.

MiX Telematics (NYSE:MIXT) last announced its quarterly earnings data on Thursday, May 28th. The technology company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.08 by $0.05. MiX Telematics had a net margin of 5.80% and a return on equity of 11.63%. The business had revenue of $36.24 million for the quarter, compared to analyst estimates of $27.14 million. Research analysts expect that MiX Telematics will post -0.06 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of MIXT. Invesco Ltd. grew its position in shares of MiX Telematics by 4.0% in the first quarter. Invesco Ltd. now owns 79,223 shares of the technology company’s stock valued at $685,000 after purchasing an additional 3,074 shares in the last quarter. Deutsche Bank AG grew its holdings in MiX Telematics by 99.2% during the 1st quarter. Deutsche Bank AG now owns 6,631 shares of the technology company’s stock valued at $57,000 after buying an additional 3,303 shares in the last quarter. Wellington Management Group LLP increased its position in shares of MiX Telematics by 12.3% during the first quarter. Wellington Management Group LLP now owns 1,019,035 shares of the technology company’s stock valued at $8,815,000 after buying an additional 111,291 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of MiX Telematics by 3.3% in the first quarter. Acadian Asset Management LLC now owns 818,019 shares of the technology company’s stock worth $7,074,000 after buying an additional 26,274 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of MiX Telematics by 4.8% in the first quarter. Russell Investments Group Ltd. now owns 241,959 shares of the technology company’s stock valued at $2,076,000 after acquiring an additional 10,976 shares during the period. 35.82% of the stock is owned by hedge funds and other institutional investors.

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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