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. “
Other research analysts have also issued reports about the stock. Canaccord Genuity reiterated a buy rating and issued a $25.00 target price on shares of CalAmp Corp. in a research report on Thursday, August 11th. B. Riley reiterated a buy rating and issued a $29.00 target price on shares of CalAmp Corp. in a research report on Sunday, July 3rd. Craig Hallum reiterated a buy rating and issued a $20.00 target price (down from $21.00) on shares of CalAmp Corp. in a research report on Wednesday, June 29th. First Analysis lowered shares of CalAmp Corp. from an overweight rating to an equal weight rating and cut their target price for the stock from $19.00 to $16.00 in a research report on Friday, September 30th. Finally, Aegis lowered shares of CalAmp Corp. from a buy rating to a hold rating in a research report on Monday, October 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $21.56.
CalAmp Corp. (NASDAQ:CAMP) opened at 14.11 on Wednesday. The company has a market capitalization of $512.64 million, a price-to-earnings ratio of 73.11 and a beta of 1.27. CalAmp Corp. has a 52-week low of $13.01 and a 52-week high of $21.35. The stock has a 50 day moving average price of $15.02 and a 200 day moving average price of $15.11.
CalAmp Corp. (NASDAQ:CAMP) last announced its earnings results on Thursday, September 29th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. CalAmp Corp. had a net margin of 2.21% and a return on equity of 21.17%. The company earned $90.50 million during the quarter. During the same quarter last year, the firm posted $0.27 earnings per share. The firm’s revenue was up 29.6% on a year-over-year basis. Equities research analysts forecast that CalAmp Corp. will post $1.11 earnings per share for the current year.
In other news, VP Richard K. Vitelle sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $15.00, for a total transaction of $225,000.00. Following the completion of the transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.00% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Emerald Acquisition Ltd. purchased a new position in shares of CalAmp Corp. during the second quarter valued at approximately $8,725,000. Nomura Holdings Inc. increased its position 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 last quarter. JPMorgan Chase & Co. increased its position in 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 during the last quarter. Aristotle Capital Boston LLC increased its position in CalAmp Corp. by 308.9% in the second quarter. Aristotle Capital Boston LLC now owns 175,626 shares of the company’s stock worth $2,601,000 after buying an additional 132,680 shares during the last quarter. Finally, Falcon Point Capital LLC increased its position 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 last quarter. 65.97% of the stock is 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.
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