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

SHOR has been the topic of several recent research reports. ValuEngine lowered shares of ShoreTel from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded shares of ShoreTel from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a report on Tuesday, July 18th. BidaskClub upgraded shares of ShoreTel from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Northland Securities lowered shares of ShoreTel from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $10.00 to $7.50 in a report on Friday, July 28th. Finally, Sidoti lowered shares of ShoreTel from a “buy” rating to a “neutral” rating in a report on Friday, July 28th.

Several large investors have recently made changes to their positions in the stock. Los Angeles Capital Management & Equity Research Inc. grew its position in shares of ShoreTel by 0.4% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 110,743 shares of the communications equipment provider’s stock valued at $642,000 after buying an additional 390 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of ShoreTel by 1.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 48,475 shares of the communications equipment provider’s stock valued at $281,000 after buying an additional 815 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of ShoreTel by 3.3% during the 1st 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 during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of ShoreTel by 1.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 258,671 shares of the communications equipment provider’s stock valued at $1,501,000 after buying an additional 2,601 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of ShoreTel by 5.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,377 shares of the communications equipment provider’s stock valued at $327,000 after buying an additional 2,668 shares during the last quarter. 88.04% of the stock is owned by institutional investors and hedge funds.

ShoreTel (NASDAQ:SHOR) opened at 7.50 on Friday. The company has a 50-day moving average price of $7.48 and a 200-day moving average price of $6.43. The firm’s market capitalization is $513.88 million. ShoreTel has a 12-month low of $5.55 and a 12-month high of $8.50.

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

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ShoreTel Company Profile

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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