ShoreTel, Inc. (NASDAQ:SHOR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $6.50 price objective on the communications equipment provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.07% from the stock’s current price.

According to Zacks, “ShoreTel is a leading provider of enterprise IP telephony solutions. ShoreTel voice systems provide customers with a number of key benefits, including ease of use, manageability and lower total cost of ownership than alternative solutions. ShoreTel’s distributed software architecture and switched-based hardware platform extend enterprise-class voice services to every office and outpost, keeping employees fully connected wherever they go. ShoreTel has achieved broad industry recognition for its technology and high customer satisfaction. For the last four years, IT executives surveyed by Nemertes Research, an independent research firm, have rated ShoreTel highest in customer satisfaction among leading enterprise telecommunications systems providers. A select, worldwide group of channel partners provide service and support. ShoreTel is headquartered in Sunnyvale, California, and has regional offices in the United Kingdom, Sydney, Australia and Munich, Germany. “

A number of other analysts also recently weighed in on the stock. ValuEngine downgraded shares of ShoreTel from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Northland Securities reissued a “buy” rating and set a $10.00 price target on shares of ShoreTel in a research report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $8.25.

Shares of ShoreTel (NASDAQ SHOR) opened at 5.80 on Tuesday. ShoreTel has a 12 month low of $5.55 and a 12 month high of $8.56. The stock’s 50 day moving average is $6.01 and its 200 day moving average is $6.50. The stock’s market cap is $396.00 million.

ShoreTel (NASDAQ:SHOR) last released its quarterly earnings results on Wednesday, April 26th. The communications equipment provider reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.06. ShoreTel had a negative net margin of 3.43% and a negative return on equity of 1.15%. The business had revenue of $87.70 million during the quarter, compared to the consensus estimate of $84.03 million. During the same quarter last year, the company earned ($0.06) earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. Analysts predict that ShoreTel will post $0.06 earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in the company. PEAK6 Investments L.P. boosted its position in shares of ShoreTel by 92.9% in the first quarter. PEAK6 Investments L.P. now owns 22,686 shares of the communications equipment provider’s stock valued at $140,000 after buying an additional 10,927 shares during the period. Princeton Alpha Management LP purchased a new position in shares of ShoreTel during the second quarter valued at about $151,000. Fox Run Management L.L.C. purchased a new position in shares of ShoreTel during the third quarter valued at about $167,000. Thompson Davis & CO. Inc. boosted its position in shares of ShoreTel by 27.3% in the third quarter. Thompson Davis & CO. Inc. now owns 21,000 shares of the communications equipment provider’s stock valued at $168,000 after buying an additional 4,500 shares during the period. Finally, Stevens Capital Management LP purchased a new position in shares of ShoreTel during the first quarter valued at about $174,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

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.

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