BidaskClub Upgrades CalAmp (CAMP) to Sell

BidaskClub upgraded shares of CalAmp (NASDAQ:CAMP) from a strong sell rating to a sell rating in a report issued on Wednesday.

Other equities analysts have also issued research reports about the company. Canaccord Genuity upped their price target 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 lowered CalAmp from a hold rating to a strong sell rating in a research note on Wednesday, December 12th. ValuEngine lowered CalAmp from a hold rating to a sell rating in a research note on Tuesday, December 11th. JPMorgan Chase & Co. set a $18.00 price target on CalAmp and gave the company a hold rating in a research note on Friday, December 21st. Finally, Northland Securities downgraded CalAmp from an outperform rating to a market perform rating in a report on Tuesday, December 11th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $22.25.

Shares of CAMP traded up $0.20 during trading hours on Wednesday, hitting $14.27. 229,628 shares of the stock traded hands, compared to its average volume of 463,404. The company has a quick ratio of 3.96, a current ratio of 4.29 and a debt-to-equity ratio of 1.35. CalAmp has a 1-year low of $10.91 and a 1-year high of $25.45. The firm has a market capitalization of $484.08 million, a PE ratio of 15.51, a price-to-earnings-growth ratio of 1.82 and a beta of 1.80.

CalAmp (NASDAQ:CAMP) last issued its quarterly earnings results on Thursday, December 20th. The Wireless communications provider reported $0.25 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $88.50 million for the quarter, compared to analyst estimates of $88.26 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. Analysts anticipate that CalAmp will post 0.8 EPS for the current year.

In related news, SVP Garo Sarkis Sarkissian sold 12,500 shares of the company’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $20.43, for a total value of $255,375.00. Following the completion of the sale, the senior vice president now owns 183,876 shares in the company, valued at $3,756,586.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in shares of CalAmp by 9.6% in the second quarter. BlackRock Inc. now owns 5,202,556 shares of the Wireless communications provider’s stock worth $121,895,000 after acquiring an additional 456,236 shares in the last quarter. Voya Investment Management LLC increased its holdings in shares of CalAmp by 50.9% in the second quarter. Voya Investment Management LLC now owns 1,070,035 shares of the Wireless communications provider’s stock worth $25,071,000 after acquiring an additional 361,001 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of CalAmp by 65.6% in the third quarter. Renaissance Technologies LLC now owns 717,600 shares of the Wireless communications provider’s stock worth $17,194,000 after acquiring an additional 284,300 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of CalAmp by 2,885.8% in the third quarter. SG Americas Securities LLC now owns 141,468 shares of the Wireless communications provider’s stock worth $3,390,000 after acquiring an additional 136,730 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of CalAmp in the third quarter worth about $2,700,000. Institutional investors and hedge funds own 84.43% 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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