MiX Telematics (NYSE:MIXT) had its price target boosted by Raymond James from $24.00 to $28.00 in a research note published on Friday. They currently have a strong-buy rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the stock. ValuEngine lowered shares of MiX Telematics from a buy rating to a hold rating in a report on Tuesday, October 2nd. Zacks Investment Research upgraded shares of MiX Telematics from a sell rating to a buy rating and set a $15.00 price target for the company in a report on Tuesday, October 23rd.

MiX Telematics stock traded down $0.08 during trading hours on Friday, hitting $17.60. The company had a trading volume of 151,590 shares, compared to its average volume of 87,847. The stock has a market cap of $399.16 million, a price-to-earnings ratio of 26.39 and a beta of 0.48. MiX Telematics has a 1 year low of $11.12 and a 1 year high of $21.00.

MiX Telematics (NYSE:MIXT) last released its quarterly earnings data on Thursday, November 1st. The technology company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.05. The company had revenue of $497.00 million during the quarter, compared to analysts’ expectations of $459.37 million. MiX Telematics had a net margin of 10.58% and a return on equity of 13.30%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.05 EPS. On average, research analysts predict that MiX Telematics will post 0.63 earnings per share for the current year.

The firm also recently declared a special dividend, which was paid on Thursday, December 6th. Stockholders of record on Friday, November 23rd were issued a $0.0529 dividend. The ex-dividend date of this dividend was Wednesday, November 21st. This represents a dividend yield of 1.26%. MiX Telematics’s dividend payout ratio is currently 27.59%.

Several large investors have recently bought and sold shares of the company. Disciplined Growth Investors Inc. MN raised 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 in the last quarter. Mackenzie Financial Corp raised its holdings in shares of MiX Telematics by 101.0% in the 3rd quarter. Mackenzie Financial Corp now owns 60,503 shares of the technology company’s stock valued at $874,000 after purchasing an additional 30,403 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of MiX Telematics by 15.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,250 shares of the technology company’s stock valued at $798,000 after purchasing an additional 7,250 shares in the last quarter. RK Capital Management LLC bought a new stake in shares of MiX Telematics in the 3rd quarter valued at about $5,834,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of MiX Telematics by 23.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 104,037 shares of the technology company’s stock valued at $1,502,000 after purchasing an additional 19,421 shares in the last quarter. Institutional investors and hedge funds own 35.74% 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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