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.

In related news, insider Richard D. Mcbee bought 10,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were acquired at an average price of $8.00 per share, for a total transaction of $80,000.00. Following the purchase, the insider now owns 268,047 shares in the company, valued at approximately $2,144,376. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Associates L.P. Elliott sold 350,475 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $8.25, for a total transaction of $2,891,418.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 355,719 shares of company stock worth $2,933,192. Company insiders own 16.50% of the company’s stock.

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.

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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.

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