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. “
Several other brokerages have also recently issued reports on MIXT. Canaccord Genuity reiterated a buy rating and set a $18.00 target price (down from $30.00) on shares of MiX Telematics in a report on Thursday, May 28th. Oppenheimer restated a hold rating on shares of MiX Telematics in a report on Thursday, May 28th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. MiX Telematics currently has an average rating of Hold and a consensus target price of $15.67.
Shares of MiX Telematics stock opened at $10.16 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.94 and a quick ratio of 1.82. MiX Telematics has a 1 year low of $6.64 and a 1 year high of $15.35. The firm’s 50-day moving average is $8.94 and its two-hundred day moving average is $10.24. The stock has a market cap of $229.41 million, a price-to-earnings ratio of 29.03 and a beta of 1.02.
MiX Telematics (NYSE:MIXT) last issued its earnings results on Thursday, May 28th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.05. MiX Telematics had a net margin of 5.80% and a return on equity of 11.63%. The company had revenue of $36.24 million for the quarter, compared to analysts’ expectations of $27.14 million. On average, equities analysts expect that MiX Telematics will post -0.06 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in the stock. Disciplined Growth Investors Inc. MN raised its position in shares of MiX Telematics by 41.3% in the 1st quarter. Disciplined Growth Investors Inc. MN now owns 1,564,394 shares of the technology company’s stock valued at $13,532,000 after purchasing an additional 457,592 shares during the last quarter. Wellington Management Group LLP raised its position in shares of MiX Telematics by 12.3% in the 1st quarter. Wellington Management Group LLP now owns 1,019,035 shares of the technology company’s stock valued at $8,815,000 after purchasing an additional 111,291 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of MiX Telematics by 3.3% in the 1st quarter. Acadian Asset Management LLC now owns 818,019 shares of the technology company’s stock valued at $7,074,000 after purchasing an additional 26,274 shares during the last quarter. Bandera Partners LLC raised its position in shares of MiX Telematics by 30.8% in the 1st quarter. Bandera Partners LLC now owns 537,941 shares of the technology company’s stock valued at $4,653,000 after purchasing an additional 126,791 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of MiX Telematics by 4.8% in the 1st quarter. Russell Investments Group Ltd. now owns 241,959 shares of the technology company’s stock valued at $2,076,000 after purchasing an additional 10,976 shares during the last quarter. 35.82% of the stock is owned by hedge funds and other institutional investors.
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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