CalAmp Corp. (NASDAQ:CAMP) Receives $23.00 Average Price Target from Brokerages
CalAmp Corp. (NASDAQ:CAMP) has been given an average recommendation of “Buy” by the ten ratings firms that are currently covering the firm. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $23.00.
Several research firms recently issued reports on CAMP. B. Riley reiterated a “buy” rating and issued a $29.00 price objective on shares of CalAmp Corp. in a report on Sunday, July 3rd. First Analysis lowered their target price on CalAmp Corp. from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, August 15th. Canaccord Genuity restated a “buy” rating and set a $25.00 target price on shares of CalAmp Corp. in a report on Wednesday, June 29th. Zacks Investment Research upgraded CalAmp Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 21st. Finally, Craig Hallum restated 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.
CalAmp Corp. (NASDAQ:CAMP) opened at 16.41 on Tuesday. The stock has a market capitalization of $602.23 million, a P/E ratio of 58.82 and a beta of 1.10. The firm’s 50-day moving average price is $15.25 and its 200 day moving average price is $15.39. CalAmp Corp. has a 12-month low of $13.01 and a 12-month high of $21.35.
CalAmp Corp. (NASDAQ:CAMP) last posted its quarterly earnings data on Thursday, September 29th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. CalAmp Corp. had a return on equity of 21.28% and a net margin of 3.34%. The company had revenue of $90.50 million for the quarter, compared to analysts’ expectations of $92.26 million. During the same period in the previous year, the firm posted $0.27 EPS. CalAmp Corp.’s revenue was up 29.6% compared to the same quarter last year. On average, equities analysts anticipate that CalAmp Corp. will post $1.23 EPS for the current year.
In other CalAmp Corp. news, VP Richard K. Vitelle sold 15,000 shares of the business’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 sale, the vice president now owns 304,409 shares of the company’s stock, valued at $4,566,135. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.00% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Sei Investments Co. raised its stake 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 stake in shares of CalAmp Corp. during the second quarter worth about $106,000. Acrospire Investment Management LLC raised its stake 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 stake in shares of CalAmp Corp. during the second quarter worth about $165,000. Finally, SECOR Capital Advisors LP purchased a new stake in shares of CalAmp Corp. during the second quarter worth about $170,000. 65.21% of the stock is currently owned by institutional investors.
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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