CalAmp Corp. (CAMP) Receives Consensus Recommendation of “Hold” from Brokerages
CalAmp Corp. (NASDAQ:CAMP) has received a consensus rating of “Hold” from the twelve analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $23.29.
A number of equities research analysts recently commented on the stock. TheStreet upgraded shares of CalAmp Corp. from a “c” rating to a “b” rating in a report on Friday, September 29th. Zacks Investment Research lowered shares of CalAmp Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. B. Riley restated a “buy” rating and issued a $28.00 target price on shares of CalAmp Corp. in a report on Wednesday, October 4th. J P Morgan Chase & Co lowered shares of CalAmp Corp. from a “neutral” rating to an “underweight” rating and set a $22.00 target price on the stock. in a report on Wednesday, October 4th. Finally, Northland Securities restated a “buy” rating and issued a $25.00 target price on shares of CalAmp Corp. in a report on Sunday, October 1st.
CalAmp Corp. (NASDAQ CAMP) opened at 22.97 on Friday. CalAmp Corp. has a 12-month low of $12.13 and a 12-month high of $24.69. The firm has a 50 day moving average of $21.64 and a 200-day moving average of $19.50. The stock has a market cap of $817.75 million, a PE ratio of 212.69 and a beta of 1.60.
CalAmp Corp. (NASDAQ:CAMP) last posted its quarterly earnings results on Thursday, September 28th. The Wireless communications provider reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. CalAmp Corp. had a net margin of 1.31% and a return on equity of 18.18%. The business had revenue of $89.80 million for the quarter, compared to analysts’ expectations of $88.72 million. During the same period in the prior year, the company posted $0.27 EPS. The business’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts expect that CalAmp Corp. will post $1.17 earnings per share for the current year.
In other CalAmp Corp. news, Director Kimberly Alexy sold 25,000 shares of the stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $22.62, for a total value of $565,500.00. Following the completion of the sale, the director now owns 64,729 shares of the company’s stock, valued at $1,464,169.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Garo Sarkis Sarkissian sold 9,833 shares of the stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $23.89, for a total transaction of $234,910.37. The disclosure for this sale can be found here. Insiders sold 43,833 shares of company stock worth $1,016,320 in the last 90 days. 5.30% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE grew its position in shares of CalAmp Corp. by 101.3% during the second quarter. US Bancorp DE now owns 5,284 shares of the Wireless communications provider’s stock worth $108,000 after buying an additional 2,659 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of CalAmp Corp. by 77.1% during the second quarter. State of Alaska Department of Revenue now owns 6,941 shares of the Wireless communications provider’s stock worth $141,000 after buying an additional 3,021 shares in the last quarter. Mason Street Advisors LLC grew its position in shares of CalAmp Corp. by 4.3% during the first quarter. Mason Street Advisors LLC now owns 8,280 shares of the Wireless communications provider’s stock worth $139,000 after buying an additional 341 shares in the last quarter. First Mercantile Trust Co. acquired a new stake in shares of CalAmp Corp. during the second quarter worth approximately $205,000. Finally, Stifel Financial Corp acquired a new stake in shares of CalAmp Corp. during the first quarter worth approximately $171,000. 72.38% of the stock is owned by institutional investors and hedge funds.
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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