Brokerages Set CalAmp Corp. (CAMP) Target Price at $21.00
CalAmp Corp. (NASDAQ:CAMP) has been assigned a consensus recommendation of “Hold” from the thirteen brokerages that are covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $21.00.
Several research firms recently commented on CAMP. B. Riley reaffirmed a “buy” rating and issued a $28.00 price target on shares of CalAmp Corp. in a report on Saturday, July 1st. Craig Hallum increased their price target on CalAmp Corp. from $19.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, June 28th. BidaskClub cut CalAmp Corp. from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. J P Morgan Chase & Co began coverage on CalAmp Corp. in a report on Monday, August 28th. They issued a “neutral” rating and a $20.00 price target for the company. Finally, Northland Securities reaffirmed a “buy” rating and issued a $22.00 price target on shares of CalAmp Corp. in a report on Tuesday.
Shares of CalAmp Corp. (CAMP) traded down 2.53% during trading on Wednesday, hitting $18.89. The stock had a trading volume of 335,112 shares. The firm’s 50-day moving average is $18.71 and its 200 day moving average is $18.21. The firm’s market cap is $668.63 million. CalAmp Corp. has a 52-week low of $12.13 and a 52-week high of $20.89.
CalAmp Corp. (NASDAQ:CAMP) last posted its quarterly earnings results on Tuesday, June 27th. The Wireless communications provider reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. CalAmp Corp. had a positive return on equity of 18.84% and a negative net margin of 2.05%. The firm had revenue of $88.10 million during the quarter, compared to analysts’ expectations of $86.85 million. During the same quarter last year, the firm earned $0.30 earnings per share. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, analysts expect that CalAmp Corp. will post $1.17 EPS for the current year.
In related news, CEO Michael J. Burdiek sold 10,000 shares of the stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the transaction, the chief executive officer now directly owns 479,093 shares in the company, valued at $9,581,860. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.30% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Eagle Boston Investment Management Inc. grew its position in CalAmp Corp. by 8.6% in the second quarter. Eagle Boston Investment Management Inc. now owns 489,237 shares of the Wireless communications provider’s stock worth $9,946,000 after acquiring an additional 38,921 shares during the period. Lazard Asset Management LLC boosted its position in shares of CalAmp Corp. by 66.9% during the first quarter. Lazard Asset Management LLC now owns 16,270 shares of the Wireless communications provider’s stock worth $273,000 after buying an additional 6,519 shares during the period. Russell Investments Group Ltd. boosted its position in shares of CalAmp Corp. by 8.9% during the first quarter. Russell Investments Group Ltd. now owns 555,156 shares of the Wireless communications provider’s stock worth $9,321,000 after buying an additional 45,294 shares during the period. Principal Financial Group Inc. boosted its position in shares of CalAmp Corp. by 1.0% during the first quarter. Principal Financial Group Inc. now owns 269,158 shares of the Wireless communications provider’s stock worth $4,519,000 after buying an additional 2,714 shares during the period. Finally, Karp Capital Management Corp purchased a new position in shares of CalAmp Corp. during the first quarter worth $176,000. Institutional investors own 72.88% of the company’s stock.
About CalAmp Corp.
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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