CalAmp (CAMP) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of CalAmp (NASDAQ:CAMP) in a research report report published on Monday morning, Marketbeat Ratings reports. The firm issued a hold rating and a $22.00 target price on the Wireless communications provider’s stock. Jefferies Financial Group also issued estimates for CalAmp’s Q3 2019 earnings at $0.25 EPS, Q4 2019 earnings at $0.25 EPS, FY2019 earnings at $0.96 EPS, Q1 2020 earnings at $0.26 EPS, Q2 2020 earnings at $0.27 EPS, Q3 2020 earnings at $0.29 EPS, Q4 2020 earnings at $0.31 EPS and FY2020 earnings at $1.12 EPS.

A number of other analysts also recently weighed in on the stock. BidaskClub downgraded shares of CalAmp from a buy rating to a hold rating in a report on Thursday, October 4th. ValuEngine downgraded shares of CalAmp from a buy rating to a hold rating in a report on Tuesday, October 2nd. B. Riley lifted their price target on shares of CalAmp to $32.00 and gave the stock a buy rating in a research note on Friday, September 28th. Canaccord Genuity lifted their price target on shares of CalAmp from $29.00 to $31.00 and gave the stock a buy rating in a research note on Friday, September 28th. Finally, Craig Hallum reaffirmed a hold rating and set a $25.00 price target (up from $23.00) on shares of CalAmp in a research note on Friday, September 28th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $27.43.

CalAmp stock opened at $20.09 on Monday. CalAmp has a twelve month low of $18.99 and a twelve month high of $25.45. The company has a debt-to-equity ratio of 1.28, a quick ratio of 4.07 and a current ratio of 4.39. The stock has a market capitalization of $711.90 million, a PE ratio of 21.33, a price-to-earnings-growth ratio of 1.89 and a beta of 1.84.

CalAmp (NASDAQ:CAMP) last posted its earnings results on Thursday, September 27th. The Wireless communications provider reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. CalAmp had a net margin of 3.88% and a return on equity of 16.87%. The firm had revenue of $96.00 million for the quarter, compared to the consensus estimate of $95.36 million. During the same period in the previous year, the firm posted $0.27 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities analysts forecast that CalAmp will post 0.94 earnings per share for the current fiscal year.

In related news, CEO Michael J. Burdiek sold 6,000 shares of CalAmp stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $21.69, for a total transaction of $130,140.00. Following the completion of the transaction, the chief executive officer now directly owns 513,455 shares of the company’s stock, valued at approximately $11,136,838.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.40% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Summit Trail Advisors LLC boosted its position in CalAmp by 10.5% in the 1st quarter. Summit Trail Advisors LLC now owns 27,084 shares of the Wireless communications provider’s stock valued at $438,000 after buying an additional 2,563 shares during the period. Rhumbline Advisers boosted its position in CalAmp by 3.3% in the 2nd quarter. Rhumbline Advisers now owns 83,721 shares of the Wireless communications provider’s stock valued at $1,962,000 after buying an additional 2,698 shares during the period. Legal & General Group Plc boosted its position in CalAmp by 7.1% in the 2nd quarter. Legal & General Group Plc now owns 70,938 shares of the Wireless communications provider’s stock valued at $1,641,000 after buying an additional 4,676 shares during the period. Dimensional Fund Advisors LP boosted its position in CalAmp by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,652,677 shares of the Wireless communications provider’s stock valued at $38,721,000 after buying an additional 4,952 shares during the period. Finally, Laurion Capital Management LP boosted its position in CalAmp by 35.8% in the 2nd quarter. Laurion Capital Management LP now owns 19,830 shares of the Wireless communications provider’s stock valued at $465,000 after buying an additional 5,230 shares during the period. 78.38% of the stock is owned by hedge funds and other institutional investors.

About CalAmp

CalAmp Corp. provides in telematics systems, and software and subscription services worldwide. The company provides mobile resource management telematics devices for the Internet of Things market, which enable customers to optimize their operations by collecting, monitoring, and reporting business-critical information and desired intelligence from remote and mobile assets.

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Analyst Recommendations for CalAmp (NASDAQ:CAMP)

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