First Analysis Lowers CalAmp Corp. (CAMP) to Equal
CalAmp Corp. (NASDAQ:CAMP) was downgraded by analysts at First Analysis from an “overweight” rating to an “equal” rating in a research report issued to clients and investors on Friday. They currently have a $16.00 target price on the stock. First Analysis’ target price suggests a potential downside of 2.50% from the company’s previous close.
Several other brokerages also recently weighed in on CAMP. Zacks Investment Research raised shares of CalAmp Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 21st. Canaccord Genuity reissued a “buy” rating and set a $25.00 price target on shares of CalAmp Corp. in a research report on Thursday, August 11th. Craig Hallum reissued a “buy” rating and set a $20.00 price target (down previously from $21.00) on shares of CalAmp Corp. in a research report on Wednesday, June 29th. Finally, B. Riley reissued a “buy” rating and set a $29.00 price target on shares of CalAmp Corp. in a research report on Sunday, July 3rd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. CalAmp Corp. has a consensus rating of “Buy” and an average target price of $22.33.
Shares of CalAmp Corp. (NASDAQ:CAMP) opened at 16.41 on Friday. The stock has a market cap of $602.23 million, a P/E ratio of 58.82 and a beta of 1.10. CalAmp Corp. has a 52-week low of $13.01 and a 52-week high of $21.35. The firm’s 50 day moving average price is $15.25 and its 200 day moving average price is $15.39.
CalAmp Corp. (NASDAQ:CAMP) last announced its quarterly earnings results on Thursday, September 29th. The company reported $0.27 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. The company earned $90.50 million during the quarter. CalAmp Corp. had a net margin of 3.34% and a return on equity of 21.28%. CalAmp Corp.’s revenue was up 29.6% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS. On average, analysts expect that CalAmp Corp. will post $1.23 EPS for the current year.
In other news, VP Richard K. Vitelle sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $15.00, for a total transaction of $225,000.00. Following the completion of the sale, the vice president now owns 304,409 shares of the company’s stock, valued at approximately $4,566,135. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.00% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the stock. Sei Investments Co. increased 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 acquired a new stake in shares of CalAmp Corp. during the second quarter worth about $106,000. Acrospire Investment Management LLC increased 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 acquired a new stake in shares of CalAmp Corp. during the second quarter worth about $165,000. Finally, SECOR Capital Advisors LP acquired a new stake in shares of CalAmp Corp. during the second quarter worth about $170,000. 65.21% 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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