William Blair Downgrades ShoreTel, Inc. (NASDAQ:SHOR) to Market Perform

William Blair lowered shares of ShoreTel, Inc. (NASDAQ:SHOR) from an outperform rating to a market perform rating in a research report sent to investors on Thursday, July 27th.

SHOR has been the topic of a number of other research reports. Zacks Investment Research cut shares of ShoreTel from a buy rating to a hold rating in a research note on Thursday, July 20th. Northland Securities reissued a buy rating and issued a $10.00 price objective on shares of ShoreTel in a research note on Tuesday, July 4th. Finally, ValuEngine cut shares of ShoreTel from a hold rating to a sell rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $7.17.

Shares of ShoreTel (NASDAQ SHOR) opened at 7.50 on Thursday. The company’s market cap is $513.88 million. The stock has a 50 day moving average price of $6.51 and a 200-day moving average price of $6.35. ShoreTel has a 1-year low of $5.55 and a 1-year high of $8.50.

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

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A number of institutional investors have recently added to or reduced their stakes in SHOR. PEAK6 Investments L.P. raised its position in ShoreTel by 92.9% in the first quarter. PEAK6 Investments L.P. now owns 22,686 shares of the communications equipment provider’s stock valued at $140,000 after buying an additional 10,927 shares during the last quarter. Virtu KCG Holdings LLC raised its position in ShoreTel by 54.5% in the second quarter. Virtu KCG Holdings LLC now owns 22,827 shares of the communications equipment provider’s stock valued at $132,000 after buying an additional 8,048 shares during the last quarter. Princeton Alpha Management LP purchased a new position in ShoreTel during the first quarter valued at about $159,000. Marshall Wace North America L.P. bought a new position in shares of ShoreTel during the second quarter valued at $162,000. Finally, Stevens Capital Management LP bought a new position in shares of ShoreTel during the first quarter valued at $174,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

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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