MiX Telematics (NYSE:MIXT) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of MiX Telematics (NYSE:MIXT) from a buy rating to a hold rating in a research report sent to investors on Thursday, Zacks.com reports.

According to Zacks, “MiX Telematics Limited provides fleet and mobile asset management solutions. It offers vehicle tracking services for the consumer and commercial vehicle market worldwide. Mix’s products and services provide enterprise fleets, small fleets and consumers with solutions for safety, efficiency and security. The Company’s products includes Trailer Tracking, MiX Rovi, Beam-e, Matrix MX3, Matrix MX2, Matrix MX1, FM Tracer (FM3316i), FM Protector/MiX 3000, FM-Web, MiX Insight Analyser, Matrix Internet Tracking, MiX DriveTime, MiX Mobile, MiX Track, FM Wireless Kit, FM Voice Kit and FM Sat Comms. MiX Telematics Limited is based in Midrand, South Africa. “

Separately, ValuEngine upgraded shares of Ultrapar Participacoes from a strong sell rating to a sell rating in a report on Tuesday, June 4th.



Shares of NYSE MIXT opened at $15.25 on Thursday. MiX Telematics has a 1 year low of $13.01 and a 1 year high of $20.07. The stock’s 50 day moving average price is $15.56. The firm has a market capitalization of $344.30 million, a price-to-earnings ratio of 20.07, a P/E/G ratio of 0.73 and a beta of 0.74.

MiX Telematics (NYSE:MIXT) last announced its earnings results on Tuesday, May 14th. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.10. MiX Telematics had a net margin of 10.16% and a return on equity of 15.05%. The firm had revenue of $507.90 million for the quarter, compared to analyst estimates of $495.61 million. During the same quarter last year, the business earned $0.10 earnings per share. MiX Telematics’s revenue was up 12.0% compared to the same quarter last year. Analysts predict that MiX Telematics will post 0.83 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. SignalPoint Asset Management LLC acquired a new position in shares of MiX Telematics in the 1st quarter valued at $298,000. Granite Investment Partners LLC raised its stake in shares of MiX Telematics by 86.6% in the 1st quarter. Granite Investment Partners LLC now owns 64,133 shares of the technology company’s stock valued at $1,069,000 after acquiring an additional 29,769 shares during the period. Campbell & CO Investment Adviser LLC raised its stake in shares of MiX Telematics by 70.6% in the 1st quarter. Campbell & CO Investment Adviser LLC now owns 18,449 shares of the technology company’s stock valued at $308,000 after acquiring an additional 7,637 shares during the period. Marshall Wace LLP raised its stake in shares of MiX Telematics by 379.1% in the 1st quarter. Marshall Wace LLP now owns 162,955 shares of the technology company’s stock valued at $2,717,000 after acquiring an additional 128,941 shares during the period. Finally, BlackRock Inc. raised its stake in shares of MiX Telematics by 1,821.2% in the 4th quarter. BlackRock Inc. now owns 100,611 shares of the technology company’s stock valued at $1,575,000 after acquiring an additional 95,374 shares during the period. Institutional investors own 39.80% of the company’s stock.

About MiX Telematics

MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service delivery model. The company offers fleet solutions, including MiX Fleet Manager Premium that provides access to secure information about drivers and vehicles; MiX Fleet Manager Essential for monitoring drivers and vehicles; and MiX Asset Manager, a solution for fleet owners and managers to track and monitor vehicles.

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