MiX Telematics Limited (NYSE:MIXT) Receives $15.33 Consensus Target Price from Analysts


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MiX Telematics Limited (NYSE:MIXT) has been assigned a consensus recommendation of “Buy” from the six analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $15.33.

Several research analysts have issued reports on MIXT shares. Canaccord Genuity lowered their price objective on shares of MiX Telematics from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, October 30th. TheStreet raised shares of MiX Telematics from a “c+” rating to a “b-” rating in a report on Wednesday, December 30th. Finally, BidaskClub raised shares of MiX Telematics from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 5th.

Several hedge funds have recently made changes to their positions in MIXT. Kopion Asset Management LLC lifted its position in MiX Telematics by 33.2% during the 4th quarter. Kopion Asset Management LLC now owns 533,969 shares of the technology company’s stock worth $6,723,000 after acquiring an additional 133,085 shares during the last quarter. Pinnacle Associates Ltd. lifted its position in shares of MiX Telematics by 8.9% during the second quarter. Pinnacle Associates Ltd. now owns 228,470 shares of the technology company’s stock worth $1,972,000 after purchasing an additional 18,715 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of MiX Telematics by 21.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 139,003 shares of the technology company’s stock worth $1,243,000 after purchasing an additional 24,272 shares in the last quarter. State Street Corp lifted its position in shares of MiX Telematics by 4.7% during the third quarter. State Street Corp now owns 93,387 shares of the technology company’s stock worth $835,000 after purchasing an additional 4,162 shares in the last quarter. Finally, Seizert Capital Partners LLC lifted its holdings in MiX Telematics by 86.9% in the third quarter. Seizert Capital Partners LLC now owns 22,023 shares of the technology company’s stock valued at $197,000 after buying an additional 10,237 shares during the period. Institutional investors and hedge funds own 32.06% of the company’s stock.

NYSE:MIXT traded down $0.10 during midday trading on Wednesday, hitting $13.06. 16,508 shares of the company were exchanged, compared to its average volume of 26,669. The company has a fifty day simple moving average of $11.74 and a 200 day simple moving average of $9.79. MiX Telematics has a fifty-two week low of $6.64 and a fifty-two week high of $14.92. The company has a market capitalization of $313.98 million, a PE ratio of 35.30 and a beta of 1.03.

MiX Telematics (NYSE:MIXT) last announced its quarterly earnings results on Thursday, October 29th. The technology company reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.13. MiX Telematics had a net margin of 6.39% and a return on equity of 10.94%. The firm had revenue of $30.95 million for the quarter, compared to analyst estimates of $25.70 million. On average, equities analysts anticipate that MiX Telematics will post 0.23 earnings per share for the current fiscal year.

About MiX Telematics

MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service (Saas) 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 used to track hardware products and other assets.

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