CalAmp (NASDAQ:CAMP) Rating Increased to Buy at ValuEngine

CalAmp (NASDAQ:CAMP) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, ValuEngine reports.

CAMP has been the topic of a number of other research reports. Zacks Investment Research raised CalAmp from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. Goldman Sachs Group lowered CalAmp from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $13.00 to $11.00 in a research note on Wednesday, May 29th. TheStreet lowered CalAmp from a “c” rating to a “d+” rating in a research report on Thursday, June 27th. Northland Securities reaffirmed a “buy” rating on shares of CalAmp in a research report on Tuesday, September 3rd. Finally, BidaskClub raised CalAmp from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $19.38.

Shares of CalAmp stock opened at $11.83 on Wednesday. CalAmp has a one year low of $9.35 and a one year high of $24.37. The company has a market cap of $381.70 million, a price-to-earnings ratio of 16.21, a PEG ratio of 3.50 and a beta of 1.97. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.40 and a current ratio of 1.60. The business’s 50 day moving average price is $10.25 and its 200 day moving average price is $11.79.



CalAmp (NASDAQ:CAMP) last posted its earnings results on Thursday, June 27th. The Wireless communications provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.18). CalAmp had a return on equity of 11.85% and a net margin of 0.33%. The business had revenue of $89.10 million for the quarter, compared to analyst estimates of $86.91 million. During the same period last year, the business earned $0.29 EPS. CalAmp’s revenue was down 6.1% compared to the same quarter last year. On average, analysts predict that CalAmp will post 0.33 EPS for the current fiscal year.

In related news, Director Larry J. Wolfe purchased 50,000 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was purchased at an average cost of $11.33 per share, for a total transaction of $566,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.90% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CAMP. Royce & Associates LP acquired a new stake in CalAmp in the 1st quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in CalAmp in the 2nd quarter valued at $62,000. Meeder Asset Management Inc. acquired a new stake in CalAmp in the 2nd quarter valued at $69,000. US Bancorp DE increased its holdings in CalAmp by 19.2% in the 2nd quarter. US Bancorp DE now owns 9,991 shares of the Wireless communications provider’s stock valued at $117,000 after purchasing an additional 1,611 shares in the last quarter. Finally, Walleye Trading Advisors LLC acquired a new stake in shares of CalAmp during the second quarter valued at about $120,000. Hedge funds and other institutional investors own 78.24% of the company’s stock.

About CalAmp

CalAmp Corp. provides in telematics systems, and software and subscription services in the United States, Latin America, Western Europe, Asia Pacific, the Middle East, Africa, and internationally. The company offers mobile resource management telematics devices for the Internet of Things market, which enable customers to optimize their operations by collecting, monitoring, and reporting business-critical information and desired intelligence from remote and mobile assets.

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Analyst Recommendations for CalAmp (NASDAQ:CAMP)

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