Mitel Networks (NASDAQ:MITL) Now Covered by Analysts at GARP Research

GARP Research assumed coverage on shares of Mitel Networks (NASDAQ:MITL) (TSE:MNW) in a report released on Tuesday, December 19th, The Fly reports. The firm issued a buy rating on the communications equipment provider’s stock.

A number of other research analysts have also recently commented on MITL. Zacks Investment Research upgraded Mitel Networks from a strong sell rating to a hold rating in a research note on Wednesday, September 27th. Royal Bank of Canada reiterated a hold rating and issued a $8.50 price target on shares of Mitel Networks in a research note on Thursday, November 2nd. Craig Hallum initiated coverage on Mitel Networks in a research note on Thursday, December 14th. They issued a buy rating and a $14.00 price target on the stock. National Bank Financial boosted their price target on Mitel Networks from $10.00 to $14.00 and gave the stock an outperform rating in a research note on Monday, October 23rd. Finally, TheStreet cut Mitel Networks from a b rating to a c rating in a research note on Tuesday, November 14th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $12.17.

Shares of Mitel Networks (NASDAQ MITL) traded up $0.35 on Tuesday, hitting $8.92. The company’s stock had a trading volume of 2,614,566 shares, compared to its average volume of 1,179,071. The firm has a market capitalization of $1,340.00, a PE ratio of -223.00 and a beta of 2.66. Mitel Networks has a 12 month low of $6.21 and a 12 month high of $9.13. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.77 and a current ratio of 1.00.

In other news, insider Richard D. Mcbee acquired 10,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were purchased at an average price of $8.00 per share, for a total transaction of $80,000.00. Following the completion of the purchase, the insider now directly owns 268,047 shares of the company’s stock, valued at approximately $2,144,376. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 5,244 shares of company stock worth $41,773 in the last 90 days. 16.50% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the company. FDx Advisors Inc. bought a new position in shares of Mitel Networks during the third quarter valued at approximately $125,000. Cullen Capital Management LLC bought a new position in shares of Mitel Networks during the second quarter valued at approximately $125,000. Allianz Asset Management GmbH bought a new position in Mitel Networks in the 3rd quarter worth approximately $146,000. Quantbot Technologies LP bought a new position in Mitel Networks in the 2nd quarter worth approximately $143,000. Finally, 1st Global Advisors Inc. grew its holdings in Mitel Networks by 1.4% in the 2nd quarter. 1st Global Advisors Inc. now owns 23,658 shares of the communications equipment provider’s stock worth $174,000 after buying an additional 337 shares in the last quarter. 80.05% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: “Mitel Networks (NASDAQ:MITL) Now Covered by Analysts at GARP Research” was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.dispatchtribunal.com/2018/01/11/mitel-networks-mitl-now-covered-by-analysts-at-garp-research.html.

About Mitel Networks

Mitel Networks Corporation is a provider of business communications and collaboration software, services and solutions. The Company’s segments include Cloud and Enterprise. The Enterprise segment sells and supports products and services for premise-based customers. The Cloud segment sells and supports products that are deployed in a cloud environment.

The Fly

Receive News & Ratings for Mitel Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mitel Networks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply