Zacks Investment Research Lowers CalAmp Corp. (CAMP) to Strong Sell
According to Zacks, “CalAmp Corp. is a leading provider of wireless communications products that enable anytime/anywhere access to critical information, data and entertainment content. With comprehensive capabilities ranging from product design and development through volume production, CalAmp delivers cost-effective high quality solutions to a broad array of customers and end markets. CalAmp is the leading supplier of Direct Broadcast Satellite outdoor customer premise equipment to the U.S. satellite television market. The Company also provides wireless data communication solutions for the telemetry and asset tracking markets, private wireless networks, public safety communications and critical infrastructure and process control applications. “
Several other equities analysts have also commented on CAMP. B. Riley reaffirmed a buy rating and set a $29.00 target price on shares of CalAmp Corp. in a report on Thursday, June 23rd. Craig Hallum reaffirmed a buy rating and set a $20.00 target price (down from $21.00) on shares of CalAmp Corp. in a report on Wednesday, June 29th. Canaccord Genuity reaffirmed a buy rating and set a $25.00 target price on shares of CalAmp Corp. in a report on Wednesday, June 29th. First Analysis lowered their target price on CalAmp Corp. from $21.00 to $19.00 and set an overweight rating for the company in a report on Monday, August 15th. Finally, Aegis lowered CalAmp Corp. from a buy rating to a hold rating in a report on Monday, October 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. CalAmp Corp. presently has an average rating of Buy and a consensus price target of $21.56.
CalAmp Corp. (NASDAQ:CAMP) opened at 14.05 on Wednesday. The company’s 50-day moving average price is $15.04 and its 200 day moving average price is $15.17. CalAmp Corp. has a one year low of $13.01 and a one year high of $21.35. The firm has a market capitalization of $510.46 million, a PE ratio of 72.80 and a beta of 1.27.
CalAmp Corp. (NASDAQ:CAMP) last announced its quarterly earnings data on Thursday, September 29th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. CalAmp Corp. had a return on equity of 21.17% and a net margin of 2.21%. The firm had revenue of $90.50 million for the quarter. During the same quarter in the previous year, the company earned $0.27 EPS. The company’s quarterly revenue was up 29.6% compared to the same quarter last year. On average, analysts forecast that CalAmp Corp. will post $1.11 earnings per share for the current year.
In other CalAmp Corp. news, VP Richard K. Vitelle sold 15,000 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $15.05, for a total transaction of $225,750.00. Following the completion of the transaction, the vice president now directly owns 314,810 shares of the company’s stock, valued at approximately $4,737,890.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Sei Investments Co. raised its position in shares of CalAmp Corp. by 114.6% in the second quarter. Sei Investments Co. now owns 6,930 shares of the company’s stock worth $103,000 after buying an additional 3,701 shares during the last quarter. Mason Street Advisors LLC purchased a new position in shares of CalAmp Corp. during the second quarter worth about $106,000. Acrospire Investment Management LLC raised its position in shares of CalAmp Corp. by 76.9% in the second quarter. Acrospire Investment Management LLC now owns 8,974 shares of the company’s stock worth $133,000 after buying an additional 3,900 shares during the last quarter. Princeton Alpha Management LP purchased a new position in shares of CalAmp Corp. during the second quarter worth about $165,000. Finally, SECOR Capital Advisors LP purchased a new position in shares of CalAmp Corp. during the second quarter worth about $170,000. 65.97% of the stock is owned by hedge funds and other institutional investors.
CalAmp Corp. Company Profile
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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