CalAmp Corp. (CAMP) Issues Earnings Results
CalAmp Corp. (NASDAQ:CAMP) released its quarterly earnings data on Thursday. The company reported $0.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.27. CalAmp Corp. had a net margin of 3.34% and a return on equity of 21.28%. The company had revenue of $90.50 million for the quarter, compared to analysts’ expectations of $92.26 million. During the same quarter last year, the company earned $0.27 earnings per share. The firm’s revenue for the quarter was up 29.6% on a year-over-year basis. CalAmp Corp. updated its Q3 guidance to $0.24-0.30 EPS.
CalAmp Corp. (NASDAQ:CAMP) opened at 16.41 on Friday. CalAmp Corp. has a 52-week low of $13.01 and a 52-week high of $21.35. The company has a 50-day moving average of $15.25 and a 200-day moving average of $15.39. The stock has a market capitalization of $602.23 million, a price-to-earnings ratio of 58.82 and a beta of 1.10.
In other CalAmp Corp. news, VP Richard K. Vitelle sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $15.00, for a total value of $225,000.00. Following the transaction, the vice president now directly owns 304,409 shares of the company’s stock, valued at approximately $4,566,135. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.00% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in CAMP. Emerald Acquisition Ltd. acquired a new position in shares of CalAmp Corp. during the second quarter worth about $8,725,000. Mckinley Capital Management LLC Delaware raised its position in shares of CalAmp Corp. by 412.0% in the first quarter. Mckinley Capital Management LLC Delaware now owns 440,021 shares of the company’s stock worth $7,890,000 after buying an additional 354,086 shares during the last quarter. Nomura Holdings Inc. raised its position in shares of CalAmp Corp. by 1,933.5% in the second quarter. Nomura Holdings Inc. now owns 276,438 shares of the company’s stock worth $4,081,000 after buying an additional 262,844 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of CalAmp Corp. by 238.3% in the first quarter. JPMorgan Chase & Co. now owns 211,932 shares of the company’s stock worth $3,801,000 after buying an additional 149,279 shares during the last quarter. Finally, Aristotle Capital Boston LLC raised its position in shares of CalAmp Corp. by 308.9% in the second quarter. Aristotle Capital Boston LLC now owns 175,626 shares of the company’s stock worth $2,601,000 after buying an additional 132,680 shares during the last quarter. 65.21% of the stock is currently owned by institutional investors.
CAMP has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of CalAmp Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 21st. Canaccord Genuity restated a “buy” rating and set a $25.00 target price on shares of CalAmp Corp. in a research report on Thursday, August 11th. First Analysis lowered their target price on shares of CalAmp Corp. from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, August 15th. Craig Hallum restated a “buy” rating and set a $20.00 target price (down from $21.00) on shares of CalAmp Corp. in a research report on Wednesday, June 29th. Finally, B. Riley restated a “buy” rating and set a $29.00 target price on shares of CalAmp Corp. in a research report on Sunday, July 3rd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $22.67.
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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