ValuEngine cut shares of CalAmp (NASDAQ:CAMP) from a buy rating to a hold rating in a research note released on Friday.
Several other analysts have also weighed in on the company. TheStreet upgraded CalAmp from a c rating to a b rating in a report on Friday, September 29th. Zacks Investment Research lowered CalAmp from a buy rating to a hold rating in a report on Wednesday, October 4th. B. Riley restated a buy rating and set a $28.00 price target on shares of CalAmp in a report on Wednesday, October 4th. J P Morgan Chase & Co lowered CalAmp from a neutral rating to an underweight rating and set a $22.00 price target on the stock. in a report on Wednesday, October 4th. Finally, Northland Securities restated a buy rating and set a $25.00 price target on shares of CalAmp in a report on Sunday, October 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $25.14.
Shares of CalAmp (NASDAQ:CAMP) opened at $22.43 on Friday. CalAmp has a twelve month low of $14.12 and a twelve month high of $24.68. The firm has a market capitalization of $796.05, a price-to-earnings ratio of 25.12 and a beta of 1.64. The company has a current ratio of 2.72, a quick ratio of 2.36 and a debt-to-equity ratio of 0.81.
CalAmp (NASDAQ:CAMP) last released its quarterly earnings results on Thursday, September 28th. The Wireless communications provider reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. CalAmp had a return on equity of 18.18% and a net margin of 1.31%. The company had revenue of $89.80 million for the quarter, compared to analyst estimates of $88.72 million. During the same quarter in the prior year, the firm posted $0.27 EPS. CalAmp’s quarterly revenue was down .8% compared to the same quarter last year. equities analysts forecast that CalAmp will post 0.95 earnings per share for the current fiscal year.
In other CalAmp news, Director Kimberly Alexy sold 25,000 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $22.62, for a total value of $565,500.00. Following the transaction, the director now owns 64,729 shares of the company’s stock, valued at approximately $1,464,169.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Burdiek sold 9,000 shares of the company’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $23.99, for a total value of $215,910.00. The disclosure for this sale can be found here. Insiders sold a total of 52,833 shares of company stock worth $1,216,660 in the last ninety days. 5.30% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of CAMP. UBS Asset Management Americas Inc. bought a new position in shares of CalAmp during the 1st quarter worth $193,000. Vanguard Group Inc. grew its position in shares of CalAmp by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 1,948,640 shares of the Wireless communications provider’s stock worth $32,717,000 after buying an additional 98,825 shares in the last quarter. Geode Capital Management LLC grew its position in shares of CalAmp by 12.4% during the 1st quarter. Geode Capital Management LLC now owns 298,168 shares of the Wireless communications provider’s stock worth $5,006,000 after buying an additional 32,906 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of CalAmp by 5.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,579,319 shares of the Wireless communications provider’s stock worth $26,516,000 after buying an additional 81,806 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in shares of CalAmp by 30.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 162,550 shares of the Wireless communications provider’s stock worth $2,730,000 after buying an additional 37,484 shares in the last quarter. 72.33% of the stock is currently owned by institutional investors and hedge funds.
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CalAmp 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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