CalAmp Corp. (NASDAQ:CAMP)‘s stock had its “buy” rating reaffirmed by Canaccord Genuity in a research note issued to investors on Sunday. They currently have a $25.00 price target on the stock. Canaccord Genuity’s target price indicates a potential upside of 79.21% from the company’s previous close.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of CalAmp Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 21st. B. Riley dropped their price target on shares of CalAmp Corp. from $29.00 to $22.00 and set a “buy” rating on the stock in a research note on Saturday. First Analysis dropped their price target on shares of CalAmp Corp. from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, August 15th. Finally, Craig Hallum reiterated a “buy” rating and set a $20.00 price target (down previously from $21.00) on shares of CalAmp Corp. in a research note on Wednesday, June 29th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. CalAmp Corp. currently has an average rating of “Buy” and a consensus price target of $21.56.
CalAmp Corp. (NASDAQ:CAMP) traded down 14.99% during mid-day trading on Friday, hitting $13.95. 6,761,569 shares of the stock were exchanged. CalAmp Corp. has a 52 week low of $13.01 and a 52 week high of $21.35. The company has a 50-day moving average of $15.21 and a 200-day moving average of $15.35. The stock has a market capitalization of $511.95 million, a PE ratio of 50.00 and a beta of 1.10.
CalAmp Corp. (NASDAQ:CAMP) last issued its earnings results on Thursday, September 29th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. CalAmp Corp. had a net margin of 2.21% and a return on equity of 21.02%. The company had revenue of $90.50 million for the quarter. During the same quarter in the prior year, the business posted $0.27 EPS. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. On average, equities analysts predict that CalAmp Corp. will post $1.11 EPS for the current fiscal year.
In other CalAmp Corp. 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 value of $225,000.00. Following the sale, the vice president now directly owns 304,409 shares in the company, valued at approximately $4,566,135. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of CalAmp Corp. by 23.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 63,967 shares of the company’s stock worth $1,147,000 after buying an additional 12,210 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of 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 in the last quarter. Mckinley Capital Management LLC Delaware increased its stake in shares of CalAmp Corp. by 412.0% in the first quarter. Mckinley Capital Management LLC Delaware now owns 440,021 shares of the company’s stock worth $7,890,000 after buying an additional 354,086 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of CalAmp Corp. by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 935,991 shares of the company’s stock worth $16,782,000 after buying an additional 3,643 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of CalAmp Corp. by 238.3% in the first quarter. JPMorgan Chase & Co. now owns 211,932 shares of the company’s stock worth $3,801,000 after buying an additional 149,279 shares in the last quarter. Institutional investors own 65.21% of the company’s stock.
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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