CalAmp Corp. (NASDAQ:CAMP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Wednesday.
According to Zacks, “CalAmp Corp. is a leading provider of wireless communications products that enable anytime/anywhere access to critical information, data and entertainment content. With comprehensive capabilities ranging from product design and development through volume production, CalAmp delivers cost-effective high quality solutions to a broad array of customers and end markets. CalAmp is the leading supplier of Direct Broadcast Satellite outdoor customer premise equipment to the U.S. satellite television market. The Company also provides wireless data communication solutions for the telemetry and asset tracking markets, private wireless networks, public safety communications and critical infrastructure and process control applications. “
CAMP has been the subject of several other reports. First Analysis lowered their price objective on shares of CalAmp Corp. from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, August 15th. Canaccord Genuity reissued a “buy” rating and set a $25.00 price objective on shares of CalAmp Corp. in a research note on Wednesday, June 29th. Craig Hallum reissued a “buy” rating and set a $20.00 price objective (down from $21.00) on shares of CalAmp Corp. in a research note on Wednesday, June 29th. Aegis cut shares of CalAmp Corp. from a “buy” rating to a “hold” rating in a research note on Monday. Finally, B. Riley reissued a “buy” rating and set a $29.00 price objective on shares of CalAmp Corp. in a research note on Sunday, July 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $21.56.
CalAmp Corp. (NASDAQ:CAMP) opened at 13.84 on Wednesday. The stock has a market cap of $502.83 million, a price-to-earnings ratio of 71.71 and a beta of 1.27. CalAmp Corp. has a 12-month low of $13.01 and a 12-month high of $21.35. The company has a 50-day moving average price of $15.05 and a 200 day moving average price of $15.20.
CalAmp Corp. (NASDAQ:CAMP) last released its earnings results on Thursday, September 29th. The company reported $0.27 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. The firm earned $90.50 million during the quarter. CalAmp Corp. had a net margin of 2.21% and a return on equity of 21.17%. The firm’s revenue was up 29.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 earnings per share. On average, equities research analysts predict that CalAmp Corp. will post $1.11 EPS for the current year.
In other CalAmp Corp. news, VP Richard K. Vitelle sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $15.00, for a total value of $225,000.00. Following the completion of the transaction, the vice president now directly owns 304,409 shares of the company’s stock, valued at approximately $4,566,135. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 5.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Falcon Point Capital LLC boosted its position in CalAmp Corp. by 12.2% in the second quarter. Falcon Point Capital LLC now owns 1,112,201 shares of the company’s stock worth $16,472,000 after buying an additional 121,331 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its position in CalAmp Corp. by 58.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 28,810 shares of the company’s stock worth $427,000 after buying an additional 10,650 shares during the last quarter. Nomura Holdings Inc. boosted its position in CalAmp Corp. by 1,933.5% in the second quarter. Nomura Holdings Inc. now owns 276,438 shares of the company’s stock worth $4,081,000 after buying an additional 262,844 shares during the last quarter. Tributary Capital Management LLC boosted its position in CalAmp Corp. by 11.3% in the second quarter. Tributary Capital Management LLC now owns 334,390 shares of the company’s stock worth $4,952,000 after buying an additional 34,001 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in CalAmp Corp. by 13.4% in the first quarter. Prudential Financial Inc. now owns 127,077 shares of the company’s stock worth $2,278,000 after buying an additional 15,017 shares during the last quarter. 65.21% of the stock is owned by institutional investors.
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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