ShoreTel, Inc. (NASDAQ:SHOR) has been given a consensus rating of “Hold” by the nine ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $7.50.

Several research analysts recently commented on the company. Zacks Investment Research lowered ShoreTel from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Northland Securities reiterated a “buy” rating and issued a $10.00 price target on shares of ShoreTel in a research report on Tuesday, July 4th. Sidoti lowered ShoreTel from a “buy” rating to a “neutral” rating in a research report on Friday, July 28th. Lake Street Capital lowered ShoreTel from a “buy” rating to a “hold” rating and set a $7.50 price target for the company. in a research report on Monday, July 31st. Finally, ValuEngine lowered ShoreTel from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd.

Hedge funds have recently bought and sold shares of the stock. Park West Asset Management LLC increased its stake in ShoreTel by 71.4% in the first quarter. Park West Asset Management LLC now owns 5,519,822 shares of the communications equipment provider’s stock valued at $33,947,000 after buying an additional 2,299,483 shares in the last quarter. Capital Research Global Investors increased its stake in ShoreTel by 31.8% in the second quarter. Capital Research Global Investors now owns 5,305,000 shares of the communications equipment provider’s stock valued at $30,769,000 after buying an additional 1,280,000 shares in the last quarter. Renaissance Technologies LLC increased its stake in ShoreTel by 6.4% in the second quarter. Renaissance Technologies LLC now owns 3,694,584 shares of the communications equipment provider’s stock valued at $21,429,000 after buying an additional 221,900 shares in the last quarter. Vanguard Group Inc. increased its stake in ShoreTel by 6.2% in the second quarter. Vanguard Group Inc. now owns 3,561,046 shares of the communications equipment provider’s stock valued at $20,654,000 after buying an additional 208,834 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in ShoreTel by 14.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,311,253 shares of the communications equipment provider’s stock valued at $19,205,000 after buying an additional 413,754 shares in the last quarter. 88.04% of the stock is owned by hedge funds and other institutional investors.

ShoreTel (NASDAQ:SHOR) remained flat at $7.45 during mid-day trading on Wednesday. The company’s stock had a trading volume of 1,132,652 shares. ShoreTel has a 1-year low of $5.55 and a 1-year high of $8.50. The company’s market cap is $510.45 million. The firm’s 50 day moving average price is $6.82 and its 200 day moving average price is $6.37.

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

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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.

Analyst Recommendations for ShoreTel (NASDAQ:SHOR)

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