CalAmp Corp. (CAMP) Stock Rating Upgraded by BidaskClub
CalAmp Corp. (NASDAQ:CAMP) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
Several other equities analysts have also recently weighed in on the company. B. Riley reaffirmed a “buy” rating and set a $28.00 target price on shares of CalAmp Corp. in a research note on Saturday, July 1st. Craig Hallum boosted their price target on CalAmp Corp. from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, June 28th. Finally, Northland Securities reissued a “buy” rating and issued a $20.00 price target on shares of CalAmp Corp. in a research note on Monday, June 26th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $20.88.
Shares of CalAmp Corp. (CAMP) opened at 18.52 on Friday. CalAmp Corp. has a 1-year low of $12.13 and a 1-year high of $20.89. The stock’s market capitalization is $655.53 million. The stock has a 50 day moving average of $18.91 and a 200-day moving average of $18.00.
CalAmp Corp. (NASDAQ:CAMP) last released its earnings results on Tuesday, June 27th. The Wireless communications provider reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. CalAmp Corp. had a positive return on equity of 18.84% and a negative net margin of 2.05%. The company had revenue of $88.10 million for the quarter, compared to analysts’ expectations of $86.85 million. During the same quarter in the previous year, the business posted $0.30 EPS. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. Equities research analysts predict that CalAmp Corp. will post $1.17 earnings per share for the current fiscal year.
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In related news, CEO Michael J. Burdiek sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the sale, the chief executive officer now owns 479,093 shares of the company’s stock, valued at approximately $9,581,860. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 5.30% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Thrivent Financial For Lutherans raised its stake in CalAmp Corp. by 0.8% in the first quarter. Thrivent Financial For Lutherans now owns 19,970 shares of the Wireless communications provider’s stock valued at $335,000 after buying an additional 160 shares during the period. Texas Permanent School Fund raised its stake in CalAmp Corp. by 0.7% in the second quarter. Texas Permanent School Fund now owns 25,808 shares of the Wireless communications provider’s stock valued at $525,000 after buying an additional 170 shares during the period. Mason Street Advisors LLC raised its stake in CalAmp Corp. by 4.3% in the first quarter. Mason Street Advisors LLC now owns 8,280 shares of the Wireless communications provider’s stock valued at $139,000 after buying an additional 341 shares during the period. TIAA CREF Investment Management LLC raised its stake in CalAmp Corp. by 0.5% in the second quarter. TIAA CREF Investment Management LLC now owns 96,324 shares of the Wireless communications provider’s stock valued at $1,958,000 after buying an additional 468 shares during the period. Finally, Baker Avenue Asset Management LP raised its stake in CalAmp Corp. by 1.5% in the second quarter. Baker Avenue Asset Management LP now owns 48,492 shares of the Wireless communications provider’s stock valued at $986,000 after buying an additional 736 shares during the period. Hedge funds and other institutional investors own 72.65% 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.
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