Shares of CalAmp Corp. (NASDAQ:CAMP) have been assigned an average recommendation of “Hold” from the thirteen brokerages that are covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $21.00.
CAMP has been the subject of several recent research reports. B. Riley reaffirmed a “buy” rating and issued a $28.00 price target on shares of CalAmp Corp. in a report on Saturday, July 1st. Craig Hallum upped their price target on CalAmp Corp. from $19.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, June 28th. Northland Securities reaffirmed a “buy” rating and issued a $20.00 price target on shares of CalAmp Corp. in a report on Monday, June 26th. BidaskClub raised CalAmp Corp. from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Finally, J P Morgan Chase & Co initiated coverage on CalAmp Corp. in a report on Monday, August 28th. They issued a “neutral” rating and a $20.00 price target for the company.
Shares of CalAmp Corp. (NASDAQ:CAMP) traded up 1.16% during midday trading on Wednesday, hitting $19.11. The stock had a trading volume of 170,583 shares. The firm’s market cap is $676.42 million. CalAmp Corp. has a 12-month low of $12.13 and a 12-month high of $20.89. The firm has a 50-day moving average of $18.69 and a 200 day moving average of $18.24.
CalAmp Corp. (NASDAQ:CAMP) last announced its earnings results on Tuesday, June 27th. The Wireless communications provider reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.02. CalAmp Corp. had a positive return on equity of 18.84% and a negative net margin of 2.05%. The firm had revenue of $88.10 million during the quarter, compared to the consensus estimate of $86.85 million. During the same quarter in the prior year, the company earned $0.30 EPS. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, analysts expect that CalAmp Corp. will post $1.17 earnings per share for the current year.
In other CalAmp Corp. news, CEO Michael J. Burdiek sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the transaction, the chief executive officer now owns 479,093 shares of the company’s stock, valued at approximately $9,581,860. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.30% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. US Bancorp DE raised its holdings in shares of CalAmp Corp. by 101.3% in the 2nd quarter. US Bancorp DE now owns 5,284 shares of the Wireless communications provider’s stock worth $108,000 after buying an additional 2,659 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of CalAmp Corp. by 77.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,941 shares of the Wireless communications provider’s stock worth $141,000 after buying an additional 3,021 shares in the last quarter. Mason Street Advisors LLC raised its holdings in shares of CalAmp Corp. by 4.3% in the 1st quarter. Mason Street Advisors LLC now owns 8,280 shares of the Wireless communications provider’s stock worth $139,000 after buying an additional 341 shares in the last quarter. First Mercantile Trust Co. acquired a new position in shares of CalAmp Corp. in the 2nd quarter worth approximately $205,000. Finally, Stifel Financial Corp acquired a new position in shares of CalAmp Corp. in the 1st quarter worth approximately $171,000. 72.88% of the stock is owned by institutional investors and hedge funds.
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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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