CalAmp (CAMP) Rating Lowered to Sell at BidaskClub

CalAmp (NASDAQ:CAMP) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Several other equities analysts have also issued reports on the company. First Analysis set a $29.00 price target on CalAmp and gave the company a “buy” rating in a research note on Sunday, October 28th. TheStreet lowered CalAmp from a “b-” rating to a “c+” rating in a research note on Friday, October 19th. Jefferies Financial Group began coverage on CalAmp in a research note on Monday, October 15th. They set a “hold” rating and a $22.00 price target on the stock. ValuEngine lowered CalAmp from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Finally, B. Riley boosted their price target on CalAmp to $32.00 and gave the company a “buy” rating in a research note on Friday, September 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $27.43.

Shares of CAMP opened at $18.61 on Thursday. CalAmp has a 12-month low of $18.24 and a 12-month high of $25.45. The company has a debt-to-equity ratio of 1.28, a quick ratio of 4.07 and a current ratio of 4.39. The stock has a market cap of $646.21 million, a P/E ratio of 20.23, a PEG ratio of 1.72 and a beta of 1.70.

CalAmp (NASDAQ:CAMP) last issued its quarterly earnings results on Thursday, September 27th. The Wireless communications provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.03. CalAmp had a return on equity of 16.87% and a net margin of 3.88%. The firm had revenue of $96.00 million for the quarter, compared to analyst estimates of $95.36 million. During the same period in the previous year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts anticipate that CalAmp will post 0.94 EPS for the current fiscal year.

In other news, SVP Garo Sarkis Sarkissian sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $20.43, for a total value of $255,375.00. Following the sale, the senior vice president now directly owns 183,876 shares in the company, valued at approximately $3,756,586.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Burdiek sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $21.69, for a total value of $130,140.00. Following the completion of the sale, the chief executive officer now owns 513,455 shares in the company, valued at $11,136,838.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,000 shares of company stock worth $436,140. Corporate insiders own 5.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of CalAmp by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,189,940 shares of the Wireless communications provider’s stock valued at $52,472,000 after purchasing an additional 31,876 shares during the period. Legal & General Group Plc boosted its holdings in shares of CalAmp by 5.8% in the 3rd quarter. Legal & General Group Plc now owns 75,019 shares of the Wireless communications provider’s stock worth $1,755,000 after acquiring an additional 4,081 shares in the last quarter. MetLife Investment Advisors LLC boosted its holdings in shares of CalAmp by 67.8% in the 3rd quarter. MetLife Investment Advisors LLC now owns 23,887 shares of the Wireless communications provider’s stock worth $572,000 after acquiring an additional 9,648 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of CalAmp by 242.0% in the 3rd quarter. Pacer Advisors Inc. now owns 7,990 shares of the Wireless communications provider’s stock worth $191,000 after acquiring an additional 5,654 shares in the last quarter. Finally, Matarin Capital Management LLC acquired a new position in shares of CalAmp in the 3rd quarter worth approximately $609,000. Institutional investors own 79.66% of the company’s stock.

CalAmp Company Profile

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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Analyst Recommendations for CalAmp (NASDAQ:CAMP)

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