CalAmp Corp. (CAMP) Receives Average Rating of “Buy” from Brokerages

CalAmp Corp. (NASDAQ:CAMP) has been given a consensus rating of “Buy” by the twelve ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $25.86.

A number of analysts have weighed in on the company. Roth Capital initiated coverage on CalAmp in a report on Friday. They set a “buy” rating and a $28.00 price target for the company. BidaskClub raised CalAmp from a “hold” rating to a “buy” rating in a research note on Saturday, January 6th. ValuEngine upgraded CalAmp from a “hold” rating to a “buy” rating in a research report on Friday. JPMorgan Chase & Co. raised CalAmp from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $22.76 to $25.00 in a research note on Thursday, January 25th. Finally, B. Riley reiterated a “buy” rating and issued a $28.00 target price on shares of CalAmp in a report on Tuesday, December 19th.

In other news, CEO Michael J. Burdiek sold 9,000 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $21.68, for a total transaction of $195,120.00. Following the transaction, the chief executive officer now owns 492,434 shares of the company’s stock, valued at approximately $10,675,969.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Burdiek sold 4,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $24.35, for a total value of $97,400.00. Following the completion of the sale, the chief executive officer now owns 487,434 shares of the company’s stock, valued at $11,869,017.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,000 shares of company stock valued at $408,520. Insiders own 5.30% of the company’s stock.

Large investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. increased its holdings in shares of CalAmp by 7.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 174,728 shares of the Wireless communications provider’s stock valued at $3,553,000 after acquiring an additional 12,178 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in CalAmp by 0.5% during 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 purchasing an additional 468 shares in the last quarter. Thrivent Financial For Lutherans increased its stake in CalAmp by 7.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 21,360 shares of the Wireless communications provider’s stock valued at $434,000 after purchasing an additional 1,390 shares in the last quarter. New York State Common Retirement Fund raised its holdings in CalAmp by 22.8% during the second quarter. New York State Common Retirement Fund now owns 68,192 shares of the Wireless communications provider’s stock worth $1,386,000 after buying an additional 12,645 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in CalAmp by 3.3% during the second quarter. Vanguard Group Inc. now owns 2,012,399 shares of the Wireless communications provider’s stock worth $40,911,000 after buying an additional 63,759 shares during the last quarter. Institutional investors and hedge funds own 72.65% of the company’s stock.

Shares of CalAmp (NASDAQ:CAMP) opened at $24.76 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.76 and a quick ratio of 2.36. CalAmp has a 12 month low of $14.79 and a 12 month high of $25.45. The company has a market cap of $887.94, a price-to-earnings ratio of 52.68 and a beta of 1.73.

CalAmp (NASDAQ:CAMP) last announced its earnings results on Thursday, December 21st. The Wireless communications provider reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. The business had revenue of $93.67 million during the quarter, compared to the consensus estimate of $91.10 million. CalAmp had a net margin of 5.00% and a return on equity of 19.20%. CalAmp’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 earnings per share. sell-side analysts anticipate that CalAmp will post 0.91 earnings per share for the current year.

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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.

Analyst Recommendations for CalAmp (NASDAQ:CAMP)

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