Zacks Investment Research Downgrades CalAmp Corp. (CAMP) to Strong Sell
CalAmp Corp. (NASDAQ:CAMP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday.
According to Zacks, “CalAmp Corp. is a leading provider of wireless communications products that enable anytime/anywhere access to critical information, data and entertainment content. With comprehensive capabilities ranging from product design and development through volume production, CalAmp delivers cost-effective high quality solutions to a broad array of customers and end markets. CalAmp is the leading supplier of Direct Broadcast Satellite outdoor customer premise equipment to the U.S. satellite television market. The Company also provides wireless data communication solutions for the telemetry and asset tracking markets, private wireless networks, public safety communications and critical infrastructure and process control applications. “
Other analysts have also issued reports about the stock. Canaccord Genuity reissued a “buy” rating and issued a $25.00 price target on shares of CalAmp Corp. in a research report on Thursday, August 11th. B. Riley reissued a “buy” rating and issued a $29.00 price target on shares of CalAmp Corp. in a research report on Sunday, July 3rd. Craig Hallum reissued a “buy” rating and issued a $20.00 price target (down from $21.00) on shares of CalAmp Corp. in a research report on Wednesday, June 29th. First Analysis lowered shares of CalAmp Corp. from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $19.00 to $16.00 in a research report on Friday, September 30th. Finally, Aegis lowered shares of CalAmp Corp. from a “buy” rating to a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $21.56.
CalAmp Corp. (NASDAQ:CAMP) traded up 2.44% on Wednesday, hitting $13.86. 687,650 shares of the stock were exchanged. CalAmp Corp. has a one year low of $13.01 and a one year high of $21.35. The company has a market cap of $503.56 million, a P/E ratio of 71.81 and a beta of 1.27. The company’s 50 day moving average price is $15.10 and its 200-day moving average price is $15.22.
CalAmp Corp. (NASDAQ:CAMP) last posted its quarterly earnings data on Thursday, September 29th. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. CalAmp Corp. had a net margin of 2.21% and a return on equity of 21.17%. The company earned $90.50 million during the quarter. During the same period in the prior year, the company posted $0.27 earnings per share. CalAmp Corp.’s quarterly revenue was up 29.6% compared to the same quarter last year. Equities research analysts predict that CalAmp Corp. will post $1.11 EPS for the current fiscal year.
In other CalAmp Corp. news, VP Richard K. Vitelle sold 15,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $15.05, for a total transaction of $225,750.00. Following the transaction, the vice president now owns 314,810 shares in the company, valued at $4,737,890.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 5.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in 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 valued at $103,000 after buying an additional 3,701 shares during the last quarter. Mason Street Advisors LLC bought a new stake in shares of CalAmp Corp. during the second quarter valued at 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 valued at $133,000 after buying an additional 3,900 shares during the last quarter. Princeton Alpha Management LP bought a new stake in shares of CalAmp Corp. during the second quarter valued at about $165,000. Finally, SECOR Capital Advisors LP bought a new stake in shares of CalAmp Corp. during the second quarter valued at about $170,000. Institutional investors own 65.21% of the company’s stock.
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.
Receive News & Stock Ratings for CalAmp Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CalAmp Corp. and related stocks with our FREE daily email newsletter.