MiX Telematics Limited (NYSE:MIXT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The brokerage currently has a $11.00 price objective on the technology company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 10.00% from the stock’s current price.

According to Zacks, “MiX Telematics Limited provides fleet and mobile asset management solutions. It offers vehicle tracking services for the consumer and commercial vehicle market worldwide. Mix’s products and services provide enterprise fleets, small fleets and consumers with solutions for safety, efficiency and security. The Company’s products includes Trailer Tracking, MiX Rovi, Beam-e, Matrix MX3, Matrix MX2, Matrix MX1, FM Tracer (FM3316i), FM Protector/MiX 3000, FM-Web, MiX Insight Analyser, Matrix Internet Tracking, MiX DriveTime, MiX Mobile, MiX Track, FM Wireless Kit, FM Voice Kit and FM Sat Comms. MiX Telematics Limited is based in Midrand, South Africa. “

MIXT has been the subject of a number of other reports. TheStreet raised shares of MiX Telematics Limited from a “c+” rating to a “b-” rating in a research report on Tuesday, July 11th. ValuEngine cut shares of MiX Telematics Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $12.00 price target on shares of MiX Telematics Limited in a research report on Thursday, August 3rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $11.50.

MiX Telematics Limited (MIXT) remained flat at $10.00 during trading on Friday. 166,885 shares of the company’s stock traded hands. The company has a market capitalization of $223.39 million, a PE ratio of 25.00 and a beta of 0.81. The company’s 50-day moving average price is $9.66 and its 200 day moving average price is $8.01. MiX Telematics Limited has a 52-week low of $5.59 and a 52-week high of $10.09.

MiX Telematics Limited (NYSE:MIXT) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. MiX Telematics Limited had a net margin of 7.88% and a return on equity of 8.56%. The firm had revenue of $31.08 million during the quarter, compared to analysts’ expectations of $31.22 million. Equities analysts expect that MiX Telematics Limited will post $0.29 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “MiX Telematics Limited (MIXT) Upgraded at Zacks Investment Research” was originally reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this news story on another site, it was copied illegally and republished in violation of international trademark & copyright laws. The legal version of this news story can be read at https://theolympiareport.com/2017/10/21/mix-telematics-limited-mixt-upgraded-at-zacks-investment-research.html.

Large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in shares of MiX Telematics Limited by 105.6% in the first quarter. Russell Investments Group Ltd. now owns 19,495 shares of the technology company’s stock valued at $123,000 after buying an additional 10,015 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of MiX Telematics Limited by 47.6% in the second quarter. New York State Common Retirement Fund now owns 20,794 shares of the technology company’s stock valued at $164,000 after buying an additional 6,708 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of MiX Telematics Limited by 84.4% in the second quarter. JPMorgan Chase & Co. now owns 23,844 shares of the technology company’s stock valued at $188,000 after buying an additional 10,912 shares during the last quarter. Royce & Associates LP raised its holdings in shares of MiX Telematics Limited by 2,095.6% in the second quarter. Royce & Associates LP now owns 57,985 shares of the technology company’s stock valued at $457,000 after buying an additional 55,344 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of MiX Telematics Limited by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 58,292 shares of the technology company’s stock valued at $367,000 after buying an additional 1,715 shares during the last quarter. 19.29% of the stock is owned by institutional investors and hedge funds.

MiX Telematics Limited Company Profile

MiX Telematics Limited is a South Africa-based provider of fleet and mobile asset management solutions delivered as Software-as-a-Service (SaaS) to customers. The Company’s operating segments include Africa, Europe, Americas, Middle East and Australasia, Brazil and Central Services Organization. The Company’s products and services provide enterprise fleets, small fleets and consumers with solutions for safety, risk management and security.

Receive News & Ratings for MiX Telematics Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MiX Telematics Limited and related companies with Analyst Ratings Network's FREE daily email newsletter.