Shares of Mitel Networks Corporation (NASDAQ:MITL) (TSE:MNW) have earned a consensus broker rating score of 1.75 (Buy) from the four brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation, one has issued a buy recommendation and two have given a strong buy recommendation to the company.

Analysts have set a 12 month consensus target price of $9.67 for the company and are anticipating that the company will post $0.29 EPS for the current quarter, according to Zacks. Zacks has also given Mitel Networks an industry rank of 113 out of 265 based on the ratings given to its competitors.

MITL has been the subject of a number of research analyst reports. BidaskClub lowered Mitel Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 12th. Zacks Investment Research raised Mitel Networks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $8.50 target price on shares of Mitel Networks in a research report on Thursday, November 2nd. TheStreet lowered Mitel Networks from a “b” rating to a “c” rating in a research report on Tuesday, November 14th. Finally, National Bank Financial lifted their target price on Mitel Networks from $10.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, October 23rd.

In other Mitel Networks news, Director Peter Charbonneau sold 32,668 shares of Mitel Networks stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $8.02, for a total transaction of $261,997.36. Following the completion of the sale, the director now directly owns 64,943 shares of the company’s stock, valued at approximately $520,842.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Associates L.P. Elliott sold 25,000 shares of Mitel Networks stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $8.15, for a total value of $203,750.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 567,312 shares of company stock valued at $4,668,476. 16.50% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in MITL. River Road Asset Management LLC purchased a new position in shares of Mitel Networks in the 2nd quarter valued at $26,104,000. Sentry Investments Corp. purchased a new position in shares of Mitel Networks in the 2nd quarter valued at $12,866,000. Neuberger Berman Group LLC purchased a new position in shares of Mitel Networks in the 3rd quarter valued at $8,172,000. Paradigm Capital Management Inc. NY increased its holdings in shares of Mitel Networks by 37.0% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,838,000 shares of the communications equipment provider’s stock valued at $20,859,000 after acquiring an additional 766,200 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in shares of Mitel Networks by 10,459.2% in the 2nd quarter. Acadian Asset Management LLC now owns 724,147 shares of the communications equipment provider’s stock valued at $5,322,000 after acquiring an additional 717,289 shares during the period. Institutional investors and hedge funds own 80.05% of the company’s stock.

Shares of Mitel Networks (MITL) traded down $0.15 during mid-day trading on Friday, hitting $7.65. The company had a trading volume of 555,783 shares, compared to its average volume of 705,002. Mitel Networks has a 52-week low of $6.21 and a 52-week high of $9.13. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.00 and a quick ratio of 0.77.

COPYRIGHT VIOLATION NOTICE: This piece was originally published by Daily Political and is owned by of Daily Political. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://www.dailypolitical.com/2017/12/04/analysts-set-9-67-target-price-for-mitel-networks-corporation-mitl.html.

About Mitel Networks

Mitel Networks Corporation is a provider of business communications and collaboration software, services and solutions. The Company’s segments include Cloud and Enterprise. The Enterprise segment sells and supports products and services for premise-based customers. The Cloud segment sells and supports products that are deployed in a cloud environment.

Get a free copy of the Zacks research report on Mitel Networks (MITL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Mitel Networks Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mitel Networks Corporation and related companies with MarketBeat.com's FREE daily email newsletter.