Shares of Mitel Networks Corp (NASDAQ:MITL) (TSE:MNW) have been assigned a consensus recommendation of “Hold” from the seven research firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $12.17.
Several analysts recently weighed in on the company. BidaskClub raised Mitel Networks from a “strong sell” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research lowered Mitel Networks from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. GARP Research began coverage on Mitel Networks in a report on Tuesday, December 19th. They issued a “buy” rating for the company. Craig Hallum began coverage on Mitel Networks in a report on Thursday, December 14th. They set a “buy” rating and a $14.00 target price for the company. Finally, TheStreet lowered Mitel Networks from a “b” rating to a “c” rating in a report on Tuesday, November 14th.
Shares of Mitel Networks (NASDAQ:MITL) opened at $9.07 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.00 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $1,080.17 and a PE ratio of -4.40. Mitel Networks has a fifty-two week low of $6.21 and a fifty-two week high of $9.17.
In related news, insider Richard D. Mcbee bought 10,000 shares of the stock in a transaction dated Wednesday, November 8th. The stock was bought at an average cost of $8.00 per share, with a total value of $80,000.00. Following the completion of the acquisition, the insider now owns 268,047 shares of the company’s stock, valued at $2,144,376. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 5,244 shares of company stock valued at $41,773 over the last ninety days. Corporate insiders own 16.50% of the company’s stock.
Several large investors have recently bought and sold shares of the company. 1st Global Advisors Inc. grew its holdings in shares of Mitel Networks by 1.4% during the second quarter. 1st Global Advisors Inc. now owns 23,658 shares of the communications equipment provider’s stock valued at $174,000 after purchasing an additional 337 shares during the last quarter. FMR LLC grew its holdings in shares of Mitel Networks by 2.2% during the second quarter. FMR LLC now owns 202,800 shares of the communications equipment provider’s stock valued at $1,491,000 after purchasing an additional 4,310 shares during the last quarter. State Street Corp grew its holdings in shares of Mitel Networks by 5.6% during the second quarter. State Street Corp now owns 127,946 shares of the communications equipment provider’s stock valued at $939,000 after purchasing an additional 6,785 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Mitel Networks by 3.8% during the second quarter. Vanguard Group Inc. now owns 261,817 shares of the communications equipment provider’s stock valued at $1,925,000 after purchasing an additional 9,604 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in shares of Mitel Networks by 79.6% during the third quarter. Toronto Dominion Bank now owns 30,922 shares of the communications equipment provider’s stock valued at $259,000 after purchasing an additional 13,708 shares during the last quarter. 80.92% 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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