First Analysis downgraded shares of CalAmp Corp. (NASDAQ:CAMP) from an overweight rating to an equal weight rating in a research note published on Friday. They currently have $16.00 price objective on the stock, down from their prior price objective of $19.00.
A number of other brokerages also recently weighed in on CAMP. Canaccord Genuity restated a buy rating and set a $25.00 price objective on shares of CalAmp Corp. in a research report on Thursday, August 11th. Craig Hallum restated a buy rating and set a $20.00 price objective (down previously from $21.00) on shares of CalAmp Corp. in a research report on Wednesday, June 29th. Zacks Investment Research upgraded shares of CalAmp Corp. from a sell rating to a hold rating in a research report on Tuesday, June 21st. Finally, B. Riley lowered their price objective on shares of CalAmp Corp. from $29.00 to $22.00 and set a buy rating on the stock in a research report on Monday, September 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. CalAmp Corp. presently has an average rating of Buy and a consensus target price of $21.56.
CalAmp Corp. (NASDAQ:CAMP) traded down 0.50% on Friday, hitting $13.88. 269,033 shares of the stock were exchanged. The firm has a market cap of $504.29 million, a P/E ratio of 71.92 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 of $15.21 and a 200 day moving average of $15.35.
CalAmp Corp. (NASDAQ:CAMP) last posted its quarterly earnings results on Thursday, September 29th. The company reported $0.27 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.27. CalAmp Corp. had a net margin of 2.21% and a return on equity of 21.17%. The firm had revenue of $90.50 million for the quarter. During the same quarter in the previous year, the company earned $0.27 EPS. The company’s quarterly revenue was up 29.6% compared to the same quarter last year. Equities research analysts expect that CalAmp Corp. will post $1.11 earnings per share for the current fiscal year.
In other news, VP Richard K. Vitelle sold 15,000 shares of the 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 completion of the sale, the vice president now directly owns 304,409 shares of the company’s stock, valued at $4,566,135. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.00% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Sei Investments Co. boosted its stake in shares of CalAmp Corp. by 114.6% in the second quarter. Sei Investments Co. now owns 6,930 shares of the company’s stock worth $103,000 after buying an additional 3,701 shares during the period. Mason Street Advisors LLC purchased a new stake in shares of CalAmp Corp. during the second quarter worth about $106,000. Acrospire Investment Management LLC boosted its stake in shares of CalAmp Corp. by 76.9% in the second quarter. Acrospire Investment Management LLC now owns 8,974 shares of the company’s stock worth $133,000 after buying an additional 3,900 shares during the period. Princeton Alpha Management LP purchased a new stake in shares of CalAmp Corp. during the second quarter worth about $165,000. Finally, SECOR Capital Advisors LP purchased a new stake in shares of CalAmp Corp. during the second quarter worth about $170,000. 65.21% of the stock is 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.
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.