CalAmp (NASDAQ:CAMP) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday.
CAMP has been the subject of a number of other research reports. Canaccord Genuity lifted their price objective on CalAmp from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, September 28th. Zacks Investment Research cut CalAmp from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 12th. JPMorgan Chase & Co. set a $18.00 price objective on CalAmp and gave the company a “hold” rating in a research note on Friday, December 21st. Northland Securities cut CalAmp from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 11th. Finally, ValuEngine cut CalAmp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 11th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $22.25.
Shares of CAMP stock traded up $0.03 during trading hours on Thursday, reaching $14.01. The company’s stock had a trading volume of 299,475 shares, compared to its average volume of 407,274. The company has a debt-to-equity ratio of 1.35, a quick ratio of 3.96 and a current ratio of 4.29. CalAmp has a one year low of $10.91 and a one year high of $25.45. The firm has a market cap of $483.40 million, a P/E ratio of 15.23, a P/E/G ratio of 1.82 and a beta of 1.80.
CalAmp (NASDAQ:CAMP) last released its quarterly earnings results on Thursday, December 20th. The Wireless communications provider reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.09. CalAmp had a return on equity of 15.40% and a net margin of 0.63%. The company had revenue of $88.50 million for the quarter, compared to analyst estimates of $88.26 million. During the same period in the previous year, the company posted $0.31 earnings per share. The firm’s revenue was down 5.5% on a year-over-year basis. As a group, equities analysts predict that CalAmp will post 0.8 EPS for the current year.
In other CalAmp news, SVP Garo Sarkis Sarkissian sold 12,500 shares of the business’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $20.43, for a total transaction of $255,375.00. Following the completion of the sale, the senior vice president now owns 183,876 shares of the company’s stock, valued at $3,756,586.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAMP. Bessemer Group Inc. bought a new position in shares of CalAmp in the third quarter worth about $101,000. Pacer Advisors Inc. lifted its position in shares of CalAmp by 242.0% in the third quarter. Pacer Advisors Inc. now owns 7,990 shares of the Wireless communications provider’s stock worth $191,000 after buying an additional 5,654 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of CalAmp in the third quarter worth about $202,000. Engineers Gate Manager LP purchased a new stake in shares of CalAmp in the third quarter worth about $204,000. Finally, First Republic Investment Management Inc. purchased a new stake in shares of CalAmp in the second quarter worth about $217,000. 84.43% of the stock is owned by hedge funds and other institutional investors.
CalAmp Corp. provides in telematics systems, and software and subscription services worldwide. The company provides 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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