CalAmp Corp. (CAMP) Shares Up 4.9%
CalAmp Corp. (NASDAQ:CAMP) shares shot up 4.9% during trading on Monday . The stock traded as high as $15.07 and last traded at $14.90, with a volume of 372,762 shares. The stock had previously closed at $14.20.
Several brokerages have recently commented on CAMP. Craig Hallum dropped their price target on shares of CalAmp Corp. from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, April 20th. William Blair lowered shares of CalAmp Corp. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 20th. B. Riley restated a “buy” rating and set a $32.50 price target on shares of CalAmp Corp. in a research note on Monday, April 18th. Zacks Investment Research lowered shares of CalAmp Corp. from a “strong-buy” rating to a “sell” rating in a research note on Monday, April 25th. Finally, Canaccord Genuity restated a “buy” rating on shares of CalAmp Corp. in a research note on Wednesday, April 20th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $23.13.
The stock has a 50 day moving average of $14.32 and a 200-day moving average of $16.06. The stock has a market capitalization of $561.49 million and a price-to-earnings ratio of 54.84.
CalAmp Corp. (NASDAQ:CAMP) last posted its quarterly earnings data on Tuesday, June 28th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.09. During the same quarter in the previous year, the business earned $0.26 EPS. The business earned $91.10 million during the quarter. The firm’s revenue was up 39.3% compared to the same quarter last year. On average, analysts anticipate that CalAmp Corp. will post $1.24 earnings per share for the current year.
In other news, CFO Richard K. Vitelle sold 7,500 shares of CalAmp Corp. stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $14.46, for a total value of $108,450.00. Following the sale, the chief financial officer now directly owns 313,799 shares in the company, valued at $4,537,533.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Several hedge funds have bought and sold shares of the stock. California Public Employees Retirement System increased its stake in CalAmp Corp. by 14.1% in the fourth quarter. California Public Employees Retirement System now owns 228,700 shares of the company’s stock worth $4,558,000 after buying an additional 28,300 shares during the period. Morgan Stanley increased its position in shares of CalAmp Corp. by 1.9% in the fourth quarter. Morgan Stanley now owns 438,392 shares of the company’s stock worth $8,738,000 after buying an additional 8,230 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its position in shares of CalAmp Corp. by 45.7% in the fourth quarter. Stephens Investment Management Group LLC now owns 671,105 shares of the company’s stock worth $13,375,000 after buying an additional 210,400 shares during the last quarter.
CalAmp Corp. (CalAmp) is a provider of wireless communications solutions for a range of applications to customers globally. The Company operates through two business segments: Wireless DataCom and Satellite. The Company’s Wireless DataCom segment offers solutions for mobile resource management (MRM) applications, the machine-to-machine (M2M) communications space and other markets that require connectivity anytime and anywhere.
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