CalAmp (NASDAQ:CAMP) was upgraded by equities researchers at First Analysis from an “equal weight” rating to an “overweight” rating in a report issued on Friday, MarketBeat reports. The firm presently has a $29.00 target price on the Wireless communications provider’s stock. First Analysis’ price objective points to a potential upside of 17.27% from the company’s current price.
A number of other equities research analysts have also recently weighed in on CAMP. Roth Capital began coverage on shares of CalAmp in a report on Friday, February 2nd. They issued a “buy” rating and a $28.00 price objective on the stock. ValuEngine upgraded shares of CalAmp from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. JPMorgan Chase & Co. upgraded shares of CalAmp from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $22.76 to $25.00 in a report on Thursday, January 25th. BidaskClub upgraded shares of CalAmp from a “hold” rating to a “buy” rating in a report on Saturday, January 6th. Finally, B. Riley restated a “buy” rating and issued a $28.00 price objective on shares of CalAmp in a report on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $26.33.
CalAmp (NASDAQ CAMP) opened at $24.73 on Friday. CalAmp has a 52-week low of $15.23 and a 52-week high of $25.45. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.36 and a current ratio of 2.76. The stock has a market cap of $881.01, a PE ratio of 25.23 and a beta of 1.73.
CalAmp (NASDAQ:CAMP) last announced its quarterly earnings results on Thursday, December 21st. The Wireless communications provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.07. CalAmp had a net margin of 5.00% and a return on equity of 19.20%. The company had revenue of $93.67 million for the quarter, compared to analysts’ expectations of $91.10 million. During the same quarter in the previous year, the company earned $0.21 earnings per share. CalAmp’s quarterly revenue was up 12.4% on a year-over-year basis. research analysts forecast that CalAmp will post 0.92 EPS for the current fiscal year.
In other news, CEO Michael J. Burdiek sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $24.35, for a total value of $97,400.00. Following the transaction, the chief executive officer now owns 487,434 shares in the company, valued at $11,869,017.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Garo Sarkis Sarkissian sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $25.00, for a total transaction of $50,000.00. Following the completion of the transaction, the senior vice president now owns 194,289 shares in the company, valued at approximately $4,857,225. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,000 shares of company stock worth $408,520. Corporate insiders own 5.30% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. LS Investment Advisors LLC lifted its stake in shares of CalAmp by 380.1% in the fourth quarter. LS Investment Advisors LLC now owns 5,776 shares of the Wireless communications provider’s stock worth $124,000 after buying an additional 4,573 shares in the last quarter. FDx Advisors Inc. bought a new position in shares of CalAmp in the third quarter worth approximately $214,000. Raymond James & Associates bought a new position in shares of CalAmp in the fourth quarter worth approximately $214,000. Teacher Retirement System of Texas bought a new position in shares of CalAmp in the fourth quarter worth approximately $259,000. Finally, Paloma Partners Management Co bought a new position in shares of CalAmp in the fourth quarter worth approximately $292,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.
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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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