Mitel Networks Corp (NASDAQ:MITL) (TSE:MNW) has earned a consensus rating of “Buy” from the eight brokerages that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $12.58.
Several equities analysts have recently commented on the stock. BidaskClub upgraded shares of Mitel Networks from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 31st. Zacks Investment Research lowered shares of Mitel Networks from a “buy” rating to a “hold” rating in a report on Saturday, October 27th. Finally, ValuEngine upgraded shares of Mitel Networks from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 2nd.
In other Mitel Networks news, Director Peter Charbonneau sold 4,668 shares of the stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $10.98, for a total value of $51,254.64. Following the sale, the director now directly owns 59,969 shares of the company’s stock, valued at approximately $658,459.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Benjamin Ball sold 21,250 shares of the stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $10.97, for a total transaction of $233,112.50. Following the completion of the sale, the director now directly owns 51,125 shares in the company, valued at $560,841.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,237 shares of company stock worth $298,837. Company insiders own 5.60% of the company’s stock.
Large investors have recently made changes to their positions in the business. Paulson & CO. Inc. purchased a new stake in shares of Mitel Networks in the 2nd quarter valued at approximately $43,880,000. Capital Fund Management S.A. purchased a new stake in shares of Mitel Networks in the 2nd quarter valued at approximately $7,022,000. Cubist Systematic Strategies LLC increased its position in shares of Mitel Networks by 44.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 28,702 shares of the communications equipment provider’s stock valued at $314,000 after purchasing an additional 8,883 shares during the last quarter. Gardner Lewis Asset Management L P purchased a new stake in shares of Mitel Networks in the 2nd quarter valued at approximately $30,632,000. Finally, Cornerstone Wealth Management LLC purchased a new stake in shares of Mitel Networks in the 2nd quarter valued at approximately $6,389,000. 80.49% of the stock is currently owned by institutional investors.
Shares of MITL stock opened at $10.98 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.77 and a debt-to-equity ratio of 1.19. Mitel Networks has a one year low of $7.13 and a one year high of $11.31. The company has a market capitalization of $1.35 billion, a PE ratio of -27.45 and a beta of 2.00.
Mitel Networks Company Profile
Mitel Networks Corporation provides cloud and on-site business communications and collaboration software, services, and solutions. It operates in two segments, Enterprise and Cloud. The Enterprise segment sells and supports products and services for premise-based customers, including its premise-based IP and TDM telephony platforms; desktop devices, and unified communications and collaborations (UCC); and contact center applications that are deployed on the customer's premise under the MiVoice brand.
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