Shares of ShoreTel, Inc. (NASDAQ:SHOR) have received a consensus rating of “Hold” from the nine research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $7.50.

A number of equities research analysts recently weighed in on the company. Lake Street Capital downgraded ShoreTel from a “buy” rating to a “hold” rating and set a $7.50 price objective on the stock. in a research report on Monday, July 31st. Northland Securities downgraded ShoreTel from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $10.00 to $7.50 in a report on Friday, July 28th. Sidoti downgraded ShoreTel from a “buy” rating to a “neutral” rating in a report on Friday, July 28th. BidaskClub raised ShoreTel from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, Zacks Investment Research raised ShoreTel from a “hold” rating to a “strong-buy” rating and set a $7.75 price target for the company in a report on Wednesday, May 3rd.

A number of large investors have recently modified their holdings of the company. Princeton Alpha Management LP acquired a new stake in shares of ShoreTel during the first quarter valued at $159,000. American International Group Inc. increased its stake in shares of ShoreTel by 7.1% in the first quarter. American International Group Inc. now owns 41,452 shares of the communications equipment provider’s stock valued at $255,000 after buying an additional 2,757 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of ShoreTel by 3.3% in the first quarter. Wells Fargo & Company MN now owns 47,472 shares of the communications equipment provider’s stock valued at $292,000 after buying an additional 1,500 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in shares of ShoreTel by 21.5% in the first quarter. Wedge Capital Management L L P NC now owns 207,900 shares of the communications equipment provider’s stock valued at $1,279,000 after buying an additional 36,800 shares in the last quarter. Finally, Citadel Advisors LLC increased its stake in shares of ShoreTel by 35.3% in the first quarter. Citadel Advisors LLC now owns 160,153 shares of the communications equipment provider’s stock valued at $985,000 after buying an additional 41,770 shares in the last quarter. 88.04% of the stock is owned by institutional investors and hedge funds.

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ShoreTel (NASDAQ:SHOR) remained flat at $7.45 during midday trading on Wednesday. 1,132,652 shares of the company’s stock traded hands. ShoreTel has a 12 month low of $5.55 and a 12 month high of $8.50. The company’s market cap is $510.45 million. The firm’s 50-day moving average price is $6.82 and its 200 day moving average price is $6.37.

ShoreTel (NASDAQ:SHOR) last posted its quarterly earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. ShoreTel had a negative return on equity of 0.67% and a negative net margin of 3.48%. The business had revenue of $95.72 million for the quarter, compared to the consensus estimate of $90.69 million. Equities research analysts anticipate that ShoreTel will post $0.15 earnings per share for the current year.

About ShoreTel

ShoreTel, Inc is a provider of business communication solutions. The Company is engaged in the design, development, marketing and sale of business communication solutions. The Company is focused on the small and medium sized businesses seeking a unified communications (UC) solution allowing them to communicate anytime, anyplace and through any device they chose.

Analyst Recommendations for ShoreTel (NASDAQ:SHOR)

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