CalAmp Corp. (NASDAQ:CAMP) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $0.24-0.30 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.32. The company issued revenue guidance of $81-87 million, compared to the consensus revenue estimate of $95.01 million.
A number of equities research analysts have recently commented on the company. First Analysis lowered CalAmp Corp. from an overweight rating to an equal weight rating and dropped their price target for the stock from $19.00 to $16.00 in a research report on Friday. B. Riley dropped their price target on CalAmp Corp. from $29.00 to $22.00 and set a buy rating on the stock in a research report on Monday, September 26th. Canaccord Genuity reaffirmed a buy rating and set a $25.00 price target on shares of CalAmp Corp. in a research report on Thursday, August 11th. Zacks Investment Research raised CalAmp Corp. from a sell rating to a hold rating in a research report on Tuesday, June 21st. Finally, Craig Hallum reaffirmed a buy rating and set a $20.00 price target (down previously from $21.00) on shares of CalAmp Corp. in a research report on Wednesday, June 29th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $21.56.
CalAmp Corp. (NASDAQ:CAMP) opened at 13.95 on Monday. The firm has a 50-day moving average price of $15.21 and a 200-day moving average price of $15.35. The company has a market capitalization of $511.95 million, a P/E ratio of 50.00 and a beta of 1.10. CalAmp Corp. has a 1-year low of $13.01 and a 1-year high of $21.35.
CalAmp Corp. (NASDAQ:CAMP) last announced its earnings results on Thursday, September 29th. The company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. CalAmp Corp. had a return on equity of 21.02% and a net margin of 2.21%. The company had revenue of $90.50 million for the quarter. During the same quarter in the previous year, the company earned $0.27 EPS. The firm’s revenue for the quarter was up 29.6% on a year-over-year basis. On average, analysts forecast that CalAmp Corp. will post $1.11 EPS for the current fiscal year.
In related news, VP Richard K. Vitelle sold 15,000 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $15.05, for a total transaction of $225,750.00. Following the sale, the vice president now owns 314,810 shares in the company, valued at approximately $4,737,890.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.00% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Arizona State Retirement System raised its stake in shares of CalAmp Corp. by 1.1% in the second quarter. Arizona State Retirement System now owns 18,943 shares of the company’s stock valued at $281,000 after buying an additional 200 shares during the last quarter. Nationwide Fund Advisors increased its position in CalAmp Corp. by 2.4% in the second quarter. Nationwide Fund Advisors now owns 24,050 shares of the company’s stock worth $356,000 after buying an additional 574 shares during the period. Thrivent Financial for Lutherans increased its position in CalAmp Corp. by 6.9% in the second quarter. Thrivent Financial for Lutherans now owns 17,750 shares of the company’s stock worth $263,000 after buying an additional 1,150 shares during the period. Rhumbline Advisers increased its position in CalAmp Corp. by 3.0% in the second quarter. Rhumbline Advisers now owns 44,016 shares of the company’s stock worth $652,000 after buying an additional 1,286 shares during the period. Finally, Teachers Advisors Inc. increased its position in CalAmp Corp. by 4.0% in the second quarter. Teachers Advisors Inc. now owns 54,568 shares of the company’s stock worth $808,000 after buying an additional 2,081 shares during the period. Institutional investors own 65.21% of the company’s stock.
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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