CalAmp (CAMP) Stock Rating Lowered by ValuEngine

CalAmp (NASDAQ:CAMP) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other research analysts also recently commented on the stock. TheStreet raised shares of CalAmp from a “c” rating to a “b” rating in a research note on Friday, September 29th. Zacks Investment Research downgraded shares of CalAmp from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. B. Riley reaffirmed a “buy” rating and issued a $28.00 target price on shares of CalAmp in a research note on Wednesday, October 4th. J P Morgan Chase & Co downgraded shares of CalAmp from a “neutral” rating to an “underweight” rating and set a $22.00 target price on the stock. in a research note on Wednesday, October 4th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $25.00 target price on shares of CalAmp in a research note on Sunday, October 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. CalAmp currently has a consensus rating of “Hold” and a consensus target price of $25.14.

CalAmp (NASDAQ:CAMP) traded down $0.49 during mid-day trading on Friday, hitting $22.36. 201,055 shares of the company’s stock traded hands, compared to its average volume of 173,413. The stock has a market capitalization of $796.04, a P/E ratio of 25.12 and a beta of 1.64. CalAmp has a 52-week low of $14.12 and a 52-week high of $24.68. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.72 and a quick ratio of 2.36.

CalAmp (NASDAQ:CAMP) last posted its quarterly earnings results on Thursday, September 28th. The Wireless communications provider reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. The firm had revenue of $89.80 million for the quarter, compared to the consensus estimate of $88.72 million. CalAmp had a net margin of 1.31% and a return on equity of 18.18%. The business’s revenue was down .8% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. equities analysts forecast that CalAmp will post 0.95 EPS for the current fiscal year.

In related news, CEO Michael J. Burdiek sold 9,000 shares of CalAmp stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $23.99, for a total value of $215,910.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kimberly Alexy sold 25,000 shares of CalAmp stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $22.62, for a total transaction of $565,500.00. Following the completion of the sale, the director now owns 64,729 shares in the company, valued at approximately $1,464,169.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,833 shares of company stock worth $1,216,660. 5.30% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Eagle Boston Investment Management Inc. boosted its holdings in CalAmp by 8.6% in the second quarter. Eagle Boston Investment Management Inc. now owns 489,237 shares of the Wireless communications provider’s stock valued at $9,946,000 after acquiring an additional 38,921 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in CalAmp by 30.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 162,550 shares of the Wireless communications provider’s stock valued at $2,730,000 after acquiring an additional 37,484 shares in the last quarter. Vanguard Group Inc. boosted its holdings in CalAmp by 3.3% in the second quarter. Vanguard Group Inc. now owns 2,012,399 shares of the Wireless communications provider’s stock valued at $40,911,000 after acquiring an additional 63,759 shares in the last quarter. AlphaOne Investment Services LLC boosted its holdings in CalAmp by 5.9% in the second quarter. AlphaOne Investment Services LLC now owns 297,821 shares of the Wireless communications provider’s stock valued at $6,054,000 after acquiring an additional 16,586 shares in the last quarter. Finally, State Street Corp boosted its holdings in CalAmp by 4.4% in the second quarter. State Street Corp now owns 891,016 shares of the Wireless communications provider’s stock valued at $18,114,000 after acquiring an additional 37,172 shares in the last quarter. Institutional investors and hedge funds own 72.31% of the company’s stock.

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About CalAmp

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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