CalAmp Corp. (NASDAQ:CAMP) announced its earnings results on Thursday. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.27. CalAmp Corp. had a return on equity of 21.28% and a net margin of 3.34%. The company had revenue of $90.50 million for the quarter, compared to analyst estimates of $92.26 million. During the same period in the prior year, the company posted $0.27 EPS. CalAmp Corp.’s quarterly revenue was up 29.6% on a year-over-year basis. CalAmp Corp. updated its Q3 guidance to $0.24-0.30 EPS.
CalAmp Corp. (NASDAQ:CAMP) opened at 16.41 on Friday. The company’s 50-day moving average price is $15.25 and its 200-day moving average price is $15.39. CalAmp Corp. has a 52 week low of $13.01 and a 52 week high of $21.35. The company has a market capitalization of $602.23 million, a P/E ratio of 58.82 and a beta of 1.10.
A number of equities analysts have issued reports on CAMP shares. First Analysis cut their target price on CalAmp Corp. from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, August 15th. Canaccord Genuity reissued a “buy” rating and set a $25.00 price target on shares of CalAmp Corp. in a research report on Wednesday, June 29th. Craig Hallum reissued a “buy” rating and set a $20.00 price target (down from $21.00) on shares of CalAmp Corp. in a research report on Wednesday, June 29th. Zacks Investment Research raised CalAmp Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 21st. Finally, B. Riley reissued a “buy” rating and set a $29.00 price target on shares of CalAmp Corp. in a research report on Sunday, July 3rd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $22.67.
In other CalAmp Corp. news, VP Richard K. Vitelle sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $15.00, for a total value 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. 5.00% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Falcon Point Capital LLC raised its stake 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 period. Independent Portfolio Consultants Inc. raised its stake 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 period. Arizona State Retirement System raised its stake in CalAmp Corp. by 2.7% in the first quarter. Arizona State Retirement System now owns 18,743 shares of the company’s stock worth $336,000 after buying an additional 500 shares during the period. Geode Capital Management LLC raised its stake in CalAmp Corp. by 19.0% in the first quarter. Geode Capital Management LLC now owns 280,542 shares of the company’s stock worth $5,029,000 after buying an additional 44,794 shares during the period. Finally, Nomura Holdings Inc. raised 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 worth $4,081,000 after buying an additional 262,844 shares during the period. 65.21% of the stock is currently owned by hedge funds and other 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.
Receive News & Ratings for CalAmp Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CalAmp Corp. and related companies with MarketBeat.com's FREE daily email newsletter.