$93.62 Million in Sales Expected for CalAmp Corp. (CAMP) This Quarter

Analysts expect CalAmp Corp. (NASDAQ:CAMP) to report sales of $93.62 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for CalAmp’s earnings, with estimates ranging from $93.20 million to $94.20 million. CalAmp reported sales of $86.13 million in the same quarter last year, which indicates a positive year over year growth rate of 8.7%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, April 17th.

According to Zacks, analysts expect that CalAmp will report full year sales of $93.62 million for the current fiscal year, with estimates ranging from $364.72 million to $365.70 million. For the next financial year, analysts anticipate that the business will post sales of $392.01 million per share, with estimates ranging from $385.54 million to $395.62 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for CalAmp.

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A number of research analysts have recently weighed in on the stock. 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 report on Friday, February 16th. B. Riley reissued a “buy” rating and set a $28.00 target price on shares of CalAmp in a research report on Wednesday, January 3rd. Canaccord Genuity reissued a “buy” rating and set a $27.00 target price on shares of CalAmp in a research report on Thursday, December 21st. Zacks Investment Research downgraded shares of CalAmp from a “hold” rating to a “sell” rating in a research report on Thursday, December 28th. Finally, Craig Hallum downgraded shares of CalAmp from a “buy” rating to a “hold” rating and set a $24.00 target price for the company. in a research report on Thursday, March 8th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $26.44.

Shares of CalAmp stock traded down $0.28 on Monday, reaching $22.30. 187,064 shares of the company traded hands, compared to its average volume of 245,409. CalAmp has a 52 week low of $15.64 and a 52 week high of $25.45. The company has a market capitalization of $804.40, a P/E ratio of 25.63 and a beta of 1.72. The company has a quick ratio of 2.36, a current ratio of 2.76 and a debt-to-equity ratio of 0.76.

In related news, CEO Michael J. Burdiek sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $22.53, for a total transaction of $281,625.00. Following the sale, the chief executive officer now directly owns 495,934 shares in the company, valued at approximately $11,173,393.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $25.00, for a total transaction of $50,000.00. Following the sale, the senior vice president now owns 194,289 shares in the company, valued at $4,857,225. The disclosure for this sale can be found here. Insiders have sold a total of 31,000 shares of company stock worth $720,150 over the last 90 days. 5.30% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the stock. MetLife Investment Advisors LLC purchased a new stake in shares of CalAmp during the 4th quarter valued at approximately $305,000. Millennium Management LLC lifted its stake in shares of CalAmp by 58.0% during the 4th quarter. Millennium Management LLC now owns 556,613 shares of the Wireless communications provider’s stock valued at $11,928,000 after buying an additional 204,285 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of CalAmp during the 4th quarter valued at approximately $292,000. Raymond James & Associates purchased a new stake in shares of CalAmp during the 4th quarter valued at approximately $214,000. Finally, Two Sigma Advisers LP lifted its stake in shares of CalAmp by 626.8% during the 4th quarter. Two Sigma Advisers LP now owns 89,400 shares of the Wireless communications provider’s stock valued at $1,916,000 after buying an additional 77,100 shares in the last quarter. Institutional investors own 71.57% of the company’s stock.

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CalAmp Company Profile

CalAmp Corp. provides Internet of Things (IoT) enablement solutions for various mobile and fixed applications worldwide. The company provides solutions for mobile resource management and applications for the IoT market, which enable customers in the transportation, government, construction, automotive, and energy markets to optimize their operations by collecting, monitoring, and reporting business-critical data and desired intelligence from remote and mobile assets.

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Earnings History and Estimates for CalAmp (NASDAQ:CAMP)

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