CalAmp Corp. (CAMP) Earns “Buy” Rating from B. Riley
CalAmp Corp. (NASDAQ:CAMP)‘s stock had its “buy” rating reiterated by analysts at B. Riley in a research note issued to investors on Wednesday. They currently have a $28.00 target price on the Wireless communications provider’s stock. B. Riley’s price target would suggest a potential upside of 16.23% from the company’s current price.
Several other research analysts also recently weighed in on CAMP. Craig Hallum upped their price objective on shares of CalAmp Corp. from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, June 28th. J P Morgan Chase & Co cut shares of CalAmp Corp. from a “neutral” rating to an “underweight” rating and set a $22.00 target price on the stock. in a research report on Wednesday. BidaskClub lowered CalAmp Corp. from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Zacks Investment Research upgraded CalAmp Corp. from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Tuesday. Finally, Canaccord Genuity lifted their price objective on shares of CalAmp Corp. from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, September 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $23.75.
CalAmp Corp. (CAMP) traded down 3.32% on Wednesday, reaching $23.29. 700,806 shares of the company traded hands. CalAmp Corp. has a one year low of $12.13 and a one year high of $24.69. The stock has a market capitalization of $829.15 million, a PE ratio of 215.65 and a beta of 1.60. The firm has a 50 day moving average of $19.48 and a 200-day moving average of $18.75.
CalAmp Corp. (NASDAQ:CAMP) last issued its quarterly earnings results on Thursday, September 28th. The Wireless communications provider reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. CalAmp Corp. had a return on equity of 18.18% and a net margin of 1.31%. The firm had revenue of $89.80 million during the quarter, compared to the consensus estimate of $88.72 million. During the same period last year, the business posted $0.27 EPS. The business’s revenue was down .8% compared to the same quarter last year. On average, analysts anticipate that CalAmp Corp. will post $1.17 EPS for the current year.
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A number of large investors have recently modified their holdings of the stock. Thompson Siegel & Walmsley LLC bought a new stake in CalAmp Corp. during the 4th quarter worth approximately $9,555,000. Emerald Acquisition Ltd. purchased a new stake in CalAmp Corp. in the 2nd quarter worth approximately $8,725,000. Divisar Capital Management LLC purchased a new stake in CalAmp Corp. in the 4th quarter worth approximately $8,264,000. Russell Investments Group Ltd. purchased a new stake in CalAmp Corp. in the 4th quarter worth approximately $7,506,000. Finally, Mckinley Capital Management LLC Delaware lifted its stake in CalAmp Corp. by 412.0% in the 1st quarter. Mckinley Capital Management LLC Delaware now owns 440,021 shares of the Wireless communications provider’s stock worth $7,890,000 after purchasing an additional 354,086 shares in the last quarter. 72.88% of the stock is owned by institutional investors.
About CalAmp Corp.
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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