CalAmp Corp. (NASDAQ:CAMP) Receives Consensus Rating of “Hold” from Brokerages
CalAmp Corp. (NASDAQ:CAMP) has been assigned a consensus rating of “Hold” from the twelve research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $20.88.
A number of brokerages have recently issued reports on CAMP. B. Riley reaffirmed a “buy” rating and issued a $28.00 price objective on shares of CalAmp Corp. in a research note on Saturday, July 1st. Northland Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of CalAmp Corp. in a research note on Monday, June 26th. Craig Hallum upped their price objective on shares of CalAmp Corp. from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, June 28th. BidaskClub cut shares of CalAmp Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Zacks Investment Research cut shares of CalAmp Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, April 20th.
In related news, CEO Michael J. Burdiek sold 10,000 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the sale, the chief executive officer now directly owns 479,093 shares in the company, valued at approximately $9,581,860. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Garo Sarkis Sarkissian sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $18.83, for a total transaction of $282,450.00. Following the sale, the senior vice president now owns 200,680 shares of the company’s stock, valued at $3,778,804.40. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Lazard Asset Management LLC raised its stake in CalAmp Corp. by 66.9% in the first quarter. Lazard Asset Management LLC now owns 16,270 shares of the Wireless communications provider’s stock worth $273,000 after buying an additional 6,519 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in CalAmp Corp. by 4.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 27,306 shares of the Wireless communications provider’s stock worth $396,000 after buying an additional 1,039 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of CalAmp Corp. by 8.9% in the first quarter. Russell Investments Group Ltd. now owns 555,156 shares of the Wireless communications provider’s stock valued at $9,321,000 after buying an additional 45,294 shares during the period. Karp Capital Management Corp bought a new position in shares of CalAmp Corp. during the first quarter valued at approximately $176,000. Finally, Principal Financial Group Inc. raised its position in shares of CalAmp Corp. by 1.0% in the first quarter. Principal Financial Group Inc. now owns 269,158 shares of the Wireless communications provider’s stock valued at $4,519,000 after buying an additional 2,714 shares during the period. Institutional investors own 73.80% of the company’s stock.
CalAmp Corp. (NASDAQ CAMP) traded down 0.55% during trading on Friday, hitting $17.99. 242,923 shares of the stock traded hands. CalAmp Corp. has a 12 month low of $12.13 and a 12 month high of $20.89. The stock’s market cap is $636.77 million. The company has a 50-day moving average price of $19.37 and a 200-day moving average price of $17.77.
CalAmp Corp. (NASDAQ:CAMP) last announced its quarterly earnings data on Tuesday, June 27th. The Wireless communications provider reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. CalAmp Corp. had a negative net margin of 2.63% and a negative return on equity of 6.31%. The company had revenue of $88.10 million during the quarter, compared to analysts’ expectations of $86.85 million. During the same quarter in the prior year, the company earned $0.30 EPS. The firm’s revenue was down 3.3% on a year-over-year basis. Equities research analysts expect that CalAmp Corp. will post $1.17 EPS for the current year.
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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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