MiX Telematics (NYSE:MIXT) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of MiX Telematics (NYSE:MIXT) in a research report issued to clients and investors on Wednesday. The brokerage set a “buy” rating on the technology company’s stock.

Separately, Raymond James boosted their price target on shares of MiX Telematics from $8.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th.

MiX Telematics Price Performance

Shares of NYSE MIXT opened at $14.55 on Wednesday. The company has a market capitalization of $353.75 million, a P/E ratio of 58.20 and a beta of 1.15. The company has a 50 day simple moving average of $11.15 and a 200-day simple moving average of $8.24. MiX Telematics has a 1 year low of $4.75 and a 1 year high of $14.85.

MiX Telematics (NYSE:MIXT) last issued its quarterly earnings data on Thursday, February 1st. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). MiX Telematics had a return on equity of 8.45% and a net margin of 3.72%. The business had revenue of $39.09 million for the quarter, compared to analyst estimates of $37.02 million. As a group, research analysts expect that MiX Telematics will post 0.4 EPS for the current year.

Hedge Funds Weigh In On MiX Telematics

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in MiX Telematics by 7.9% in the first quarter. Royal Bank of Canada now owns 17,248 shares of the technology company’s stock valued at $193,000 after purchasing an additional 1,263 shares during the period. Dimensional Fund Advisors LP raised its holdings in MiX Telematics by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 107,768 shares of the technology company’s stock worth $1,210,000 after purchasing an additional 1,881 shares in the last quarter. State Street Corp lifted its position in shares of MiX Telematics by 13.1% during the 2nd quarter. State Street Corp now owns 18,857 shares of the technology company’s stock worth $119,000 after buying an additional 2,184 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of MiX Telematics by 105.8% in the 1st quarter. Bank of America Corp DE now owns 6,175 shares of the technology company’s stock valued at $48,000 after buying an additional 3,175 shares in the last quarter. Finally, Meros Investment Management LP grew its position in shares of MiX Telematics by 1.0% in the 4th quarter. Meros Investment Management LP now owns 452,894 shares of the technology company’s stock valued at $3,899,000 after buying an additional 4,349 shares during the last quarter. 45.72% of the stock is owned by institutional investors and hedge funds.

About MiX Telematics

MiX Telematics Limited, together with its subsidiaries, provides fleet and mobile asset management solutions through software-as-a-service (SaaS) delivery model. It offers MiX Fleet Manager, a commercial fleet management solution comprising MyMiX, an innovative driver engagement platform; MiX Vision, an on-road and in-vehicle video recording solution; MiX Rovi, an in-vehicle display and communications system; MiX RIBAS and DriveMate, an in-cab driving aid solution; MiX Hours of Service, which allows real-time monitoring and compliance; MiX Journey Management, an easy-to-use electronic alternative to paper-based systems; and MiX OEM Connect allows customer instant, direct integration to relevant, and powerful telematics data.