CalAmp Corp. (CAMP) Stock Rating Upgraded by Zacks Investment Research
CalAmp Corp. (NASDAQ:CAMP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $27.00 price objective on the Wireless communications provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.08% from the company’s current price.
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. “
Several other analysts also recently issued reports on the stock. B. Riley reaffirmed a “buy” rating and issued a $22.00 price target on shares of CalAmp Corp. in a report on Monday, June 26th. Northland Securities reissued a “buy” rating and set a $20.00 price objective on shares of CalAmp Corp. in a research note on Monday, June 26th. Craig Hallum raised their price objective on shares of CalAmp Corp. from $19.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, June 28th. BidaskClub downgraded CalAmp Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, J P Morgan Chase & Co assumed coverage on CalAmp Corp. in a research report on Monday, August 28th. They set a “neutral” rating and a $20.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. CalAmp Corp. currently has a consensus rating of “Buy” and an average target price of $23.50.
Shares of CalAmp Corp. (NASDAQ CAMP) traded down 0.74% during trading on Tuesday, reaching $24.09. The company had a trading volume of 442,078 shares. The firm has a market capitalization of $857.63 million, a P/E ratio of 223.06 and a beta of 1.60. The firm’s 50 day moving average price is $19.32 and its 200 day moving average price is $18.70. CalAmp Corp. has a 12 month low of $12.13 and a 12 month high of $24.69.
CalAmp Corp. (NASDAQ:CAMP) last issued its quarterly earnings data on Thursday, September 28th. The Wireless communications provider reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.01. CalAmp Corp. had a net margin of 1.31% and a return on equity of 18.18%. The firm had revenue of $89.80 million for the quarter, compared to analysts’ expectations of $88.72 million. During the same period in the prior year, the company earned $0.27 EPS. The firm’s revenue was down .8% on a year-over-year basis. Equities analysts predict that CalAmp Corp. will post $1.17 EPS for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Thrivent Financial For Lutherans boosted its position in CalAmp Corp. by 0.8% during the first quarter. Thrivent Financial For Lutherans now owns 19,970 shares of the Wireless communications provider’s stock worth $335,000 after acquiring an additional 160 shares during the last quarter. Texas Permanent School Fund grew its stake in CalAmp Corp. by 0.7% in the 2nd quarter. Texas Permanent School Fund now owns 25,808 shares of the Wireless communications provider’s stock worth $525,000 after acquiring an additional 170 shares during the period. Mason Street Advisors LLC grew its stake in CalAmp Corp. by 4.3% in the 1st quarter. Mason Street Advisors LLC now owns 8,280 shares of the Wireless communications provider’s stock worth $139,000 after acquiring an additional 341 shares during the period. TIAA CREF Investment Management LLC raised its holdings in CalAmp Corp. by 0.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 96,324 shares of the Wireless communications provider’s stock valued at $1,958,000 after acquiring an additional 468 shares during the last quarter. Finally, Baker Avenue Asset Management LP raised its holdings in CalAmp Corp. by 1.5% in the 2nd quarter. Baker Avenue Asset Management LP now owns 48,492 shares of the Wireless communications provider’s stock valued at $986,000 after acquiring an additional 736 shares during the last quarter. Hedge funds and other institutional investors own 72.88% of the company’s stock.
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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