ValuEngine Upgrades MiX Telematics (MIXT) to “Buy”
ValuEngine upgraded shares of MiX Telematics (NYSE:MIXT) from a hold rating to a buy rating in a research report released on Thursday.
MIXT has been the topic of several other research reports. BidaskClub upgraded MiX Telematics from a hold rating to a buy rating in a research note on Tuesday, November 7th. Canaccord Genuity boosted their target price on MiX Telematics from $12.00 to $15.00 and gave the company a buy rating in a research note on Friday, November 3rd. Finally, Zacks Investment Research cut MiX Telematics from a buy rating to a hold rating in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. MiX Telematics currently has a consensus rating of Buy and a consensus price target of $15.50.
MiX Telematics (NYSE:MIXT) opened at $13.38 on Thursday. MiX Telematics has a 12-month low of $5.59 and a 12-month high of $14.41. The stock has a market capitalization of $300.90, a P/E ratio of 31.12, a P/E/G ratio of 1.74 and a beta of 0.58.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Friday, February 23rd will be paid a $0.052 dividend. This is a boost from MiX Telematics’s previous quarterly dividend of $0.04. The ex-dividend date is Thursday, February 22nd. This represents a $0.21 annualized dividend and a yield of 1.55%. MiX Telematics’s payout ratio is presently 32.00%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MIXT. Raymond James Financial Services Advisors Inc. bought a new stake in MiX Telematics in the 3rd quarter valued at approximately $103,000. Smith Asset Management Group LP bought a new stake in MiX Telematics in the 3rd quarter valued at approximately $114,000. New York State Common Retirement Fund lifted its stake in MiX Telematics by 47.6% in the 2nd quarter. New York State Common Retirement Fund now owns 20,794 shares of the technology company’s stock valued at $164,000 after acquiring an additional 6,708 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in MiX Telematics by 120.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 52,682 shares of the technology company’s stock valued at $524,000 after acquiring an additional 28,838 shares in the last quarter. Finally, Royce & Associates LP raised its stake in shares of MiX Telematics by 19.8% during the 3rd quarter. Royce & Associates LP now owns 69,485 shares of the technology company’s stock worth $689,000 after purchasing an additional 11,500 shares in the last quarter. Hedge funds and other institutional investors own 31.66% of the company’s stock.
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About MiX Telematics
MiX Telematics Limited is a South Africa-based provider of fleet and mobile asset management solutions delivered as Software-as-a-Service (SaaS) to customers. The Company’s operating segments include Africa, Europe, Americas, Middle East and Australasia, Brazil and Central Services Organization. The Company’s products and services provide enterprise fleets, small fleets and consumers with solutions for safety, risk management and security.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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