CalAmp Corp. (NASDAQ:CAMP) has earned an average rating of “Buy” from the ten research firms that are presently covering the firm. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $23.00.
CAMP has been the topic of a number of research analyst reports. Canaccord Genuity reiterated a “buy” rating and issued a $25.00 price target on shares of CalAmp Corp. in a report on Thursday, August 11th. Craig Hallum reiterated a “buy” rating and issued a $20.00 price target (down previously from $21.00) on shares of CalAmp Corp. in a report on Wednesday, June 29th. Zacks Investment Research upgraded shares of CalAmp Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 21st. First Analysis reduced their target price on shares of CalAmp Corp. from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, August 15th. Finally, B. Riley restated a “buy” rating and set a $29.00 target price on shares of CalAmp Corp. in a report on Monday.
CalAmp Corp. (NASDAQ:CAMP) opened at 16.41 on Tuesday. The company has a 50-day moving average price of $15.25 and a 200 day moving average price of $15.39. CalAmp Corp. has a 12-month low of $13.01 and a 12-month high of $21.35. The stock has a market cap of $602.23 million, a price-to-earnings ratio of 58.82 and a beta of 1.10.
CalAmp Corp. (NASDAQ:CAMP) last announced its quarterly earnings results on Thursday, September 29th. The company reported $0.27 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.27. The company had revenue of $90.50 million for the quarter, compared to analyst estimates of $92.26 million. CalAmp Corp. had a net margin of 3.34% and a return on equity of 21.28%. CalAmp Corp.’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same quarter last year, the business earned $0.27 EPS. On average, equities research analysts predict that CalAmp Corp. will post $1.23 EPS for the current year.
In related news, VP Richard K. Vitelle sold 15,000 shares of CalAmp Corp. stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $15.00, for a total transaction of $225,000.00. Following the sale, the vice president now owns 304,409 shares of the company’s stock, valued at approximately $4,566,135. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. bought a new stake in CalAmp Corp. during the second quarter valued at $8,725,000. Mckinley Capital Management LLC Delaware increased its stake in CalAmp Corp. by 412.0% in the first quarter. Mckinley Capital Management LLC Delaware now owns 440,021 shares of the company’s stock valued at $7,890,000 after buying an additional 354,086 shares during the last quarter. Nomura Holdings Inc. increased its stake in CalAmp Corp. by 1,933.5% in the second quarter. Nomura Holdings Inc. now owns 276,438 shares of the company’s stock valued at $4,081,000 after buying an additional 262,844 shares during the last quarter. JPMorgan Chase & Co. increased its stake in CalAmp Corp. by 238.3% in the first quarter. JPMorgan Chase & Co. now owns 211,932 shares of the company’s stock valued at $3,801,000 after buying an additional 149,279 shares during the last quarter. Finally, Aristotle Capital Boston LLC increased its stake in CalAmp Corp. by 308.9% in the second quarter. Aristotle Capital Boston LLC now owns 175,626 shares of the company’s stock valued at $2,601,000 after buying an additional 132,680 shares during the last quarter. 65.21% of the stock is currently owned by hedge funds and other institutional investors.
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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