CalAmp Corp. (CAMP) Upgraded to B at TheStreet
CalAmp Corp. (NASDAQ:CAMP) was upgraded by analysts at TheStreet from a “c” rating to a “b” rating in a research note issued on Friday.
Several other research analysts have also issued reports on CAMP. B. Riley reissued a “buy” rating and set a $22.00 target price on shares of CalAmp Corp. in a research note on Monday, June 26th. Northland Securities reaffirmed a “buy” rating and issued 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 company a “buy” rating in a research note on Wednesday, June 28th. BidaskClub lowered shares of CalAmp Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, J P Morgan Chase & Co initiated coverage on shares of CalAmp Corp. in a research note on Monday, August 28th. They issued a “neutral” rating and a $20.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned 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 up 3.14% during midday trading on Friday, reaching $23.99. 319,867 shares of the company traded hands. The stock has a market capitalization of $854.07 million, a P/E ratio of 222.13 and a beta of 1.60. CalAmp Corp. has a 12-month low of $12.13 and a 12-month high of $24.69. The company has a 50 day moving average of $19.78 and a 200-day moving average of $18.82.
CalAmp Corp. (NASDAQ:CAMP) last issued its earnings results on Thursday, September 28th. The Wireless communications provider reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The business had revenue of $89.80 million for the quarter, compared to analyst estimates of $88.72 million. CalAmp Corp. had a net margin of 1.31% and a return on equity of 18.18%. CalAmp Corp.’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 earnings per share. Equities analysts anticipate that CalAmp Corp. will post $1.17 EPS for the current fiscal year.
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In related news, CEO Michael J. Burdiek sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $23.99, for a total transaction of $215,910.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Garo Sarkis Sarkissian sold 9,833 shares of the firm’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $23.89, for a total transaction of $234,910.37. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Fund Advisors increased its holdings in CalAmp Corp. by 6.6% during the third quarter. BlackRock Fund Advisors now owns 2,557,771 shares of the Wireless communications provider’s stock worth $35,681,000 after buying an additional 158,444 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of CalAmp Corp. by 3.3% in the second quarter. Vanguard Group Inc. now owns 2,012,399 shares of the Wireless communications provider’s stock worth $40,911,000 after purchasing an additional 63,759 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of CalAmp Corp. by 9.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,735,058 shares of the Wireless communications provider’s stock worth $35,274,000 after purchasing an additional 155,739 shares in the last quarter. Falcon Point Capital LLC increased its stake in shares of CalAmp Corp. by 23.7% in the third quarter. Falcon Point Capital LLC now owns 1,376,077 shares of the Wireless communications provider’s stock worth $17,779,000 after purchasing an additional 263,876 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of CalAmp Corp. by 1.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,203,210 shares of the Wireless communications provider’s stock worth $23,980,000 after purchasing an additional 21,940 shares in the last quarter. Institutional investors and hedge funds 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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