MiX Telematics (NYSE:MIXT) Raised to Sell at ValuEngine

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ValuEngine upgraded shares of MiX Telematics (NYSE:MIXT) from a strong sell rating to a sell rating in a research report report published on Thursday, ValuEngine reports.

Separately, Zacks Investment Research lowered shares of MiX Telematics from a buy rating to a hold rating in a report on Wednesday, October 2nd.

NYSE:MIXT traded up $0.07 on Thursday, hitting $13.04. The stock had a trading volume of 21,202 shares, compared to its average volume of 51,695. The stock has a market cap of $292.86 million, a price-to-earnings ratio of 17.39, a PEG ratio of 0.61 and a beta of 0.82. The company has a fifty day moving average price of $13.92 and a two-hundred day moving average price of $15.50. MiX Telematics has a 1-year low of $12.88 and a 1-year high of $20.07.

MiX Telematics (NYSE:MIXT) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. MiX Telematics had a net margin of 12.47% and a return on equity of 15.23%. The firm had revenue of $521.70 million for the quarter, compared to analyst estimates of $513.93 million. During the same period in the prior year, the business posted $0.08 EPS. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. Analysts forecast that MiX Telematics will post 0.85 EPS for the current year.

Hedge funds have recently modified their holdings of the company. Aperio Group LLC acquired a new position in shares of MiX Telematics in the 2nd quarter worth approximately $53,000. H D Vest Advisory Services lifted its holdings in MiX Telematics by 131.3% during the 2nd quarter. H D Vest Advisory Services now owns 28,297 shares of the technology company’s stock worth $425,000 after buying an additional 16,064 shares in the last quarter. Gabelli Funds LLC lifted its holdings in MiX Telematics by 18.3% during the 2nd quarter. Gabelli Funds LLC now owns 31,066 shares of the technology company’s stock worth $467,000 after buying an additional 4,806 shares in the last quarter. Granite Investment Partners LLC lifted its holdings in MiX Telematics by 86.6% during the 1st quarter. Granite Investment Partners LLC now owns 64,133 shares of the technology company’s stock worth $1,069,000 after buying an additional 29,769 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in MiX Telematics by 11.5% during the 2nd quarter. Invesco Ltd. now owns 66,233 shares of the technology company’s stock worth $995,000 after buying an additional 6,854 shares in the last quarter. Hedge funds and other institutional investors own 41.95% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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