CalAmp (CAMP) Raised to “Hold” at Zacks Investment Research

CalAmp (NASDAQ:CAMP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and 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. “

CAMP has been the subject of several other research reports. First Analysis raised shares of CalAmp from an “equal weight” rating to an “overweight” rating and set a $29.00 target price for the company in a research note on Friday, February 16th. B. Riley reaffirmed a “buy” rating and set a $28.00 target price on shares of CalAmp in a research note on Wednesday, January 3rd. Canaccord Genuity reaffirmed a “buy” rating and set a $27.00 target price on shares of CalAmp in a research note on Thursday, December 21st. Roth Capital began coverage on shares of CalAmp in a research note on Friday, February 2nd. They set a “buy” rating and a $28.00 target price for the company. Finally, ValuEngine lowered shares of CalAmp from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. CalAmp currently has a consensus rating of “Buy” and a consensus price target of $26.33.

Shares of CalAmp (CAMP) traded up $0.41 on Wednesday, hitting $24.51. 217,263 shares of the company were exchanged, compared to its average volume of 362,965. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.76 and a quick ratio of 2.36. CalAmp has a 12-month low of $15.33 and a 12-month high of $25.45. The stock has a market capitalization of $872.59, a price-to-earnings ratio of 52.15 and a beta of 1.73.

CalAmp (NASDAQ:CAMP) last announced its earnings results on Thursday, December 21st. The Wireless communications provider reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.07. The company had revenue of $93.67 million during the quarter, compared to analyst estimates of $91.10 million. CalAmp had a net margin of 5.00% and a return on equity of 19.20%. CalAmp’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 earnings per share. equities analysts anticipate that CalAmp will post 0.92 EPS for the current year.

In other news, CEO Michael J. Burdiek sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $21.68, for a total value of $195,120.00. Following the completion of the transaction, the chief executive officer now owns 492,434 shares of the company’s stock, valued at $10,675,969.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Garo Sarkis Sarkissian sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $22.00, for a total transaction of $66,000.00. Following the completion of the transaction, the senior vice president now directly owns 195,289 shares of the company’s stock, valued at approximately $4,296,358. The disclosure for this sale can be found here. In the last three months, insiders sold 18,000 shares of company stock valued at $408,520. Insiders own 5.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. TIAA CREF Investment Management LLC boosted its stake in shares of CalAmp 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 purchasing an additional 468 shares during the period. Van Hulzen Asset Management LLC boosted its stake in shares of CalAmp by 21.0% in the third quarter. Van Hulzen Asset Management LLC now owns 15,770 shares of the Wireless communications provider’s stock valued at $367,000 after purchasing an additional 2,740 shares during the period. Cadence Capital Management LLC boosted its stake in shares of CalAmp by 5.1% in the third quarter. Cadence Capital Management LLC now owns 94,444 shares of the Wireless communications provider’s stock valued at $2,196,000 after purchasing an additional 4,564 shares during the period. LS Investment Advisors LLC raised its holdings in CalAmp by 380.1% in the fourth quarter. LS Investment Advisors LLC now owns 5,776 shares of the Wireless communications provider’s stock valued at $124,000 after acquiring an additional 4,573 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its holdings in CalAmp by 60.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 13,260 shares of the Wireless communications provider’s stock valued at $308,000 after acquiring an additional 5,020 shares in the last quarter. 71.26% of the stock is owned by institutional investors and hedge funds.

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About CalAmp

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.

Analyst Recommendations for CalAmp (NASDAQ:CAMP)

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