CalAmp Corp. (NASDAQ:CAMP) Given Consensus Recommendation of “Buy” by Brokerages
CalAmp Corp. (NASDAQ:CAMP) has earned a consensus rating of “Buy” from the eleven analysts that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $20.88.
Several analysts have issued reports on the stock. B. Riley reaffirmed a “buy” rating and issued a $28.00 price objective on shares of CalAmp Corp. in a research report on Saturday, July 1st. Craig Hallum increased their price objective on shares of CalAmp Corp. from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, June 28th. Northland Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of CalAmp Corp. in a research report on Monday, June 26th. Benchmark Co. assumed coverage on shares of CalAmp Corp. in a research report on Tuesday, April 25th. They set a “buy” rating and a $23.00 price target for the company. Finally, Zacks Investment Research raised shares of CalAmp Corp. from a “sell” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Friday, April 21st.
CalAmp Corp. (CAMP) traded down 1.35% on Tuesday, reaching $19.04. 275,948 shares of the company’s stock traded hands. CalAmp Corp. has a 52 week low of $12.13 and a 52 week high of $20.89. The firm’s market capitalization is $673.94 million. The stock has a 50-day moving average of $19.54 and a 200 day moving average of $17.31.
CalAmp Corp. (NASDAQ:CAMP) last issued its quarterly earnings data on Tuesday, June 27th. The Wireless communications provider reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. CalAmp Corp. had a negative net margin of 2.05% and a positive return on equity of 18.84%. The company had revenue of $88.10 million during the quarter, compared to the consensus estimate of $86.85 million. During the same quarter last year, the company earned $0.30 earnings per share. CalAmp Corp.’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, equities analysts expect that CalAmp Corp. will post $1.17 EPS for the current fiscal year.
In other CalAmp Corp. news, SVP Garo Sarkis Sarkissian sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $18.83, for a total value of $282,450.00. Following the sale, the senior vice president now directly owns 200,680 shares in the company, valued at $3,778,804.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Burdiek sold 10,000 shares of the firm’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the sale, the chief executive officer now owns 479,093 shares in the company, valued at $9,581,860. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Mason Street Advisors LLC boosted its stake in shares of CalAmp Corp. by 4.3% in the first quarter. Mason Street Advisors LLC now owns 8,280 shares of the Wireless communications provider’s stock worth $139,000 after buying an additional 341 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of CalAmp Corp. by 77.1% in the second quarter. State of Alaska Department of Revenue now owns 6,941 shares of the Wireless communications provider’s stock worth $141,000 after buying an additional 3,021 shares in the last quarter. Stifel Financial Corp bought a new stake in shares of CalAmp Corp. during the first quarter worth $171,000. Karp Capital Management Corp bought a new stake in shares of CalAmp Corp. during the first quarter worth $176,000. Finally, Dubuque Bank & Trust Co. bought a new stake in shares of CalAmp Corp. during the first quarter worth $183,000. Institutional investors own 73.90% of the company’s stock.
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CalAmp Corp. 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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