CalAmp Corp. Price Target Cut to $28.00 (CAMP)
Analysts at Northland Securities dropped their price target on shares of CalAmp Corp. (NASDAQ:CAMP) from $30.00 to $28.00 in a research report issued to clients and investors on Wednesday. The firm currently has an “outperform” rating on the stock. Northland Securities’ price objective would indicate a potential upside of 26.93% from the stock’s previous close.
CalAmp Corp. (NASDAQ:CAMP) opened at 22.06 on Wednesday. CalAmp Corp. has a 1-year low of $14.71 and a 1-year high of $34.85. The stock’s 50-day moving average is $19.23 and its 200-day moving average is $25.37. The company has a market cap of $779.4 million and a P/E ratio of 65.64.
CalAmp Corp. (NASDAQ:CAMP) last announced its earnings results on Tuesday, July 1st. The company reported $0.19 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.18 by $0.01. The company had revenue of $59.00 million for the quarter, compared to the consensus estimate of $57.98 million. During the same quarter last year, the company posted $0.16 earnings per share. CalAmp Corp.’s revenue was up 9.9% compared to the same quarter last year. Analysts expect that CalAmp Corp. will post $0.97 EPS for the current fiscal year.
A number of other firms have also recently commented on CAMP. Analysts at FBR Capital Markets cut their price target on shares of CalAmp Corp. from $28.00 to $26.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Canaccord Genuity cut their price target on shares of CalAmp Corp. from $35.00 to $28.00 in a research note on Wednesday. Finally, analysts at Zacks upgraded shares of CalAmp Corp. from an “underperform” rating to a “neutral” rating in a research note on Wednesday, June 25th. They now have a $21.40 price target on the stock. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $28.59.
CalAmp Corp. (NASDAQ:CAMP) develops and markets wireless technology solutions that deliver data, voice and video for critical networked communications and other applications.
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