Mitel Networks (MITL) Now Covered by Analysts at Craig Hallum
Equities researchers at Craig Hallum assumed coverage on shares of Mitel Networks (NASDAQ:MITL) (TSE:MNW) in a research note issued on Thursday. The firm set a “buy” rating on the communications equipment provider’s stock.
Several other research analysts also recently commented on the company. Zacks Investment Research downgraded Mitel Networks from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 9th. TheStreet downgraded Mitel Networks from a “b” rating to a “c” rating in a research note on Tuesday, November 14th. National Bank Financial boosted their target price on Mitel Networks from $10.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday, October 23rd. Royal Bank of Canada reaffirmed a “hold” rating and issued a $8.50 price objective on shares of Mitel Networks in a research note on Thursday, November 2nd. Finally, BidaskClub downgraded Mitel Networks from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $11.25.
Mitel Networks (NASDAQ:MITL) opened at $7.35 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.00 and a debt-to-equity ratio of 1.94. Mitel Networks has a 52 week low of $6.21 and a 52 week high of $9.13.
Several institutional investors have recently added to or reduced their stakes in MITL. Cullen Capital Management LLC acquired a new position in shares of Mitel Networks in the second quarter valued at approximately $125,000. FDx Advisors Inc. bought a new stake in Mitel Networks in the third quarter valued at approximately $125,000. Quantbot Technologies LP bought a new stake in Mitel Networks in the second quarter valued at approximately $143,000. Allianz Asset Management GmbH bought a new stake in Mitel Networks in the third quarter valued at approximately $146,000. Finally, 1st Global Advisors Inc. boosted its holdings in Mitel Networks by 1.4% in the second quarter. 1st Global Advisors Inc. now owns 23,658 shares of the communications equipment provider’s stock valued at $174,000 after acquiring an additional 337 shares during the last quarter. 80.05% of the stock is owned by institutional investors.
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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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