Zacks Investment Research downgraded shares of CalAmp Corp. (NASDAQ:CAMP) from a buy rating to a hold rating in a report published 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. “

Several other equities research analysts also recently weighed in on CAMP. B. Riley reissued a buy rating and set a $28.00 price objective on shares of CalAmp Corp. in a report on Saturday, July 1st. J P Morgan Chase & Co downgraded CalAmp Corp. from a neutral rating to an underweight rating and set a $22.00 price objective on the stock. in a report on Wednesday. Craig Hallum raised their price objective on CalAmp Corp. from $23.00 to $25.00 and gave the company a buy rating in a report on Friday, September 29th. Northland Securities reissued a buy rating and set a $25.00 price objective on shares of CalAmp Corp. in a report on Sunday. Finally, Canaccord Genuity raised their price objective on CalAmp Corp. from $23.00 to $26.00 and gave the company a buy rating in a report on Friday, September 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $23.75.

Shares of CalAmp Corp. (CAMP) traded up 2.97% during midday trading on Wednesday, hitting $23.95. The stock had a trading volume of 218,529 shares. CalAmp Corp. has a one year low of $12.13 and a one year high of $24.69. The company has a market capitalization of $852.64 million, a PE ratio of 221.76 and a beta of 1.60. The firm’s 50-day moving average is $19.62 and its 200 day moving average is $18.78.

CalAmp Corp. (NASDAQ:CAMP) last released its quarterly earnings data on Thursday, September 28th. The Wireless communications provider reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. CalAmp Corp. had a return on equity of 18.18% and a net margin of 1.31%. The company had revenue of $89.80 million for the quarter, compared to the consensus estimate of $88.72 million. During the same quarter last year, the business posted $0.27 EPS. CalAmp Corp.’s revenue for the quarter was down .8% on a year-over-year basis. Equities analysts expect that CalAmp Corp. will post $1.17 earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd acquired a new position in CalAmp Corp. during the 2nd quarter worth about $1,276,000. Nomura Holdings Inc. lifted its holdings in CalAmp Corp. by 11.8% during the 2nd quarter. Nomura Holdings Inc. now owns 326,846 shares of the Wireless communications provider’s stock worth $6,611,000 after buying an additional 34,422 shares during the period. State Street Corp lifted its holdings in CalAmp Corp. by 4.4% during the 2nd quarter. State Street Corp now owns 891,016 shares of the Wireless communications provider’s stock worth $18,114,000 after buying an additional 37,172 shares during the period. Precept Management LLC acquired a new position in CalAmp Corp. during the 2nd quarter worth about $1,260,000. Finally, Voya Investment Management LLC lifted its holdings in CalAmp Corp. by 2.8% during the 2nd quarter. Voya Investment Management LLC now owns 878,417 shares of the Wireless communications provider’s stock worth $17,858,000 after buying an additional 23,819 shares during the period. 72.88% 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.

Analyst Recommendations for CalAmp Corp. (NASDAQ:CAMP)

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