Aegis Lowers CalAmp Corp. (CAMP) to Hold
CalAmp Corp. (NASDAQ:CAMP) was downgraded by investment analysts at Aegis from a “buy” rating to a “hold” rating in a research note issued on Monday.
CAMP has been the subject of a number of other reports. Canaccord Genuity reaffirmed a “buy” rating and set a $25.00 price objective on shares of CalAmp Corp. in a report on Thursday, August 11th. Craig Hallum reaffirmed a “buy” rating and set a $20.00 price objective (down from $21.00) on shares of CalAmp Corp. in a report on Wednesday, June 29th. Zacks Investment Research raised shares of CalAmp Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 21st. First Analysis downgraded shares of CalAmp Corp. from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $19.00 to $16.00 in a report on Friday. Finally, B. Riley reduced their price objective on shares of CalAmp Corp. from $29.00 to $22.00 and set a “buy” rating for the company in a report on Saturday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $21.56.
CalAmp Corp. (NASDAQ:CAMP) traded down 2.1061% on Monday, reaching $13.6562. 804,147 shares of the company’s stock traded hands. The stock has a market capitalization of $496.16 million, a PE ratio of 70.7575 and a beta of 1.27. The firm’s 50-day moving average is $15.21 and its 200 day moving average is $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 analysts’ consensus estimates of $0.27. The company earned $90.50 million during the quarter. CalAmp Corp. had a net margin of 2.21% and a return on equity of 21.17%. CalAmp Corp.’s revenue was up 29.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 earnings per share. Analysts forecast that CalAmp Corp. will post $1.11 EPS for the current year.
In other CalAmp Corp. news, VP Richard K. Vitelle sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $15.00, for a total value of $225,000.00. Following the completion of the sale, the vice president now owns 304,409 shares in the company, valued at approximately $4,566,135. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.00% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Falcon Point Capital LLC boosted its stake 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 valued at $16,472,000 after buying an additional 121,331 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its stake in CalAmp Corp. by 58.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 28,810 shares of the company’s stock valued at $427,000 after buying an additional 10,650 shares during the last quarter. Arizona State Retirement System boosted its stake in CalAmp Corp. by 2.7% in the first quarter. Arizona State Retirement System now owns 18,743 shares of the company’s stock valued at $336,000 after buying an additional 500 shares during the last quarter. Nomura Holdings Inc. boosted its stake in CalAmp Corp. by 1,933.5% in the second quarter. Nomura Holdings Inc. now owns 276,438 shares of the company’s stock valued at $4,081,000 after buying an additional 262,844 shares during the last quarter. Finally, Tributary Capital Management LLC boosted its stake in CalAmp Corp. by 11.3% in the second quarter. Tributary Capital Management LLC now owns 334,390 shares of the company’s stock valued at $4,952,000 after buying an additional 34,001 shares during the last quarter. Hedge funds and other institutional investors 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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