Mitel Networks (MITL) Coverage Initiated at GARP Research
Analysts at GARP Research started coverage on shares of Mitel Networks (NASDAQ:MITL) (TSE:MNW) in a note issued to investors on Tuesday. The firm set a “buy” rating on the communications equipment provider’s stock.
A number of other equities analysts have also commented on MITL. Zacks Investment Research upgraded shares of Mitel Networks from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 27th. National Bank Financial boosted their price objective on shares of Mitel Networks from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, October 23rd. Royal Bank of Canada reiterated a “hold” rating and issued a $8.50 price objective on shares of Mitel Networks in a report on Thursday, November 2nd. TheStreet lowered shares of Mitel Networks from a “b” rating to a “c” rating in a report on Tuesday, November 14th. Finally, BidaskClub lowered shares of Mitel Networks from a “sell” rating to a “strong sell” rating in a report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $12.17.
Mitel Networks (MITL) opened at $8.15 on Tuesday. Mitel Networks has a 1-year low of $6.21 and a 1-year high of $9.13. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.00 and a quick ratio of 0.77.
Several institutional investors have recently modified their holdings of MITL. River Road Asset Management LLC acquired a new stake in Mitel Networks during the second quarter worth about $26,104,000. Sentry Investments Corp. acquired a new stake in Mitel Networks during the second quarter worth about $12,866,000. Neuberger Berman Group LLC acquired a new stake in Mitel Networks during the third quarter worth about $8,172,000. Paradigm Capital Management Inc. NY raised its stake in Mitel Networks by 37.0% during the second quarter. Paradigm Capital Management Inc. NY now owns 2,838,000 shares of the communications equipment provider’s stock worth $20,859,000 after acquiring an additional 766,200 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new stake in Mitel Networks during the third quarter worth about $5,761,000. Institutional investors and hedge funds own 80.05% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This report was first reported by Watch List News and is the property of of Watch List News. If you are accessing this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this report can be accessed at https://www.watchlistnews.com/mitel-networks-mitl-coverage-initiated-at-garp-research/1772725.html.
Mitel Networks Company Profile
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.
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.