ShoreTel Inc. (SHOR) Trading Down 1.8%
ShoreTel Inc. (NASDAQ:SHOR) shares fell 1.8% during mid-day trading on Monday . The stock traded as low as $8.07 and last traded at $8.15, with a volume of 269,720 shares traded. The stock had previously closed at $8.30.
Several brokerages recently issued reports on SHOR. William Blair restated a “buy” rating on shares of ShoreTel in a research report on Saturday, July 9th. Zacks Investment Research upgraded ShoreTel from a “sell” rating to a “hold” rating in a research report on Thursday, June 30th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $10.65.
The firm’s 50-day moving average is $7.18 and its 200 day moving average is $7.06. The firm’s market capitalization is $558.59 million.
ShoreTel (NASDAQ:SHOR) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.06. The company earned $94.60 million during the quarter, compared to the consensus estimate of $90.57 million. The company’s revenue was up .4% on a year-over-year basis. During the same quarter last year, the business earned $0.12 earnings per share. Analysts anticipate that ShoreTel Inc. will post $0.01 earnings per share for the current fiscal year.
Several hedge funds and institutional investors recently bought and sold shares of the stock. California State Teachers Retirement System boosted its position in ShoreTel by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 119,670 shares of the company’s stock valued at $1,059,000 after buying an additional 2,169 shares during the period. Marshall Wace LLP bought a new position in ShoreTel during the fourth quarter valued at about $1,307,000. Nationwide Fund Advisors boosted its position in ShoreTel by 212.9% in the fourth quarter. Nationwide Fund Advisors now owns 149,582 shares of the company’s stock valued at $1,324,000 after buying an additional 101,772 shares during the period. Finally, State of Wisconsin Investment Board boosted its position in ShoreTel by 0.5% in the fourth quarter. State of Wisconsin Investment Board now owns 547,481 shares of the company’s stock valued at $4,845,000 after buying an additional 2,915 shares during the period.
Shoretel, Inc (ShoreTel) is engaged in the design, development, marketing and sale of business communication solutions. The Company provides business communication solutions, including integrated voice, video, data and mobile applications based on Internet protocol (IP) technologies. It is focused on the small and medium sized businesses (less than 5,000 users), with a Unified Communications platform.
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