CalAmp Corp. (CAMP) Given “Buy” Rating at Canaccord Genuity
Several other research analysts also recently weighed in on the company. B. Riley reduced their target price on CalAmp Corp. from $29.00 to $22.00 and set a buy rating for the company in a research note on Saturday. First Analysis downgraded CalAmp Corp. from an overweight rating to an equal weight rating and reduced their target price for the stock from $19.00 to $16.00 in a research note on Friday. Craig Hallum reaffirmed a buy rating and set a $20.00 target price (down from $21.00) on shares of CalAmp Corp. in a research note on Wednesday, June 29th. Finally, Zacks Investment Research raised CalAmp Corp. from a sell rating to a hold rating in a research note on Tuesday, June 21st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $21.56.
CalAmp Corp. (NASDAQ:CAMP) traded down 14.99% on Friday, reaching $13.95. 6,761,569 shares of the company’s stock traded hands. The stock has a market capitalization of $511.95 million, a price-to-earnings ratio of 50.00 and a beta of 1.10. The firm has a 50-day moving average price of $15.21 and a 200-day moving average price of $15.35. CalAmp Corp. has a 52 week low of $13.01 and a 52 week high of $21.35.
CalAmp Corp. (NASDAQ:CAMP) last released its quarterly earnings data on Thursday, September 29th. The company reported $0.27 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. The business had revenue of $90.50 million for the quarter. CalAmp Corp. had a return on equity of 21.02% and a net margin of 2.21%. The company’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 EPS. On average, analysts predict that CalAmp Corp. will post $1.11 earnings per share for the current year.
In other news, VP Richard K. Vitelle sold 15,000 shares of the stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $15.00, for a total transaction of $225,000.00. Following the completion of the transaction, the vice president now directly owns 304,409 shares in the company, valued at approximately $4,566,135. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Falcon Point Capital LLC boosted its position in CalAmp Corp. by 12.2% in the second quarter. Falcon Point Capital LLC now owns 1,112,201 shares of the company’s stock worth $16,472,000 after buying an additional 121,331 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its position in shares of CalAmp Corp. by 58.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 28,810 shares of the company’s stock worth $427,000 after buying an additional 10,650 shares during the period. Arizona State Retirement System boosted its position in shares of CalAmp Corp. by 2.7% in the first quarter. Arizona State Retirement System now owns 18,743 shares of the company’s stock worth $336,000 after buying an additional 500 shares during the period. Nomura Holdings Inc. boosted 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 period. Finally, Tributary Capital Management LLC boosted its position in shares of CalAmp Corp. by 11.3% in the second quarter. Tributary Capital Management LLC now owns 334,390 shares of the company’s stock worth $4,952,000 after buying an additional 34,001 shares during the period. Institutional investors and hedge funds own 65.21% 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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