ValuEngine Lowers CalAmp (NASDAQ:CAMP) to Hold

ValuEngine cut shares of CalAmp (NASDAQ:CAMP) from a buy rating to a hold rating in a report released on Thursday morning, ValuEngine reports.

Several other equities research analysts have also recently weighed in on the stock. Northland Securities reaffirmed a buy rating on shares of CalAmp in a research report on Tuesday, September 3rd. BidaskClub raised CalAmp from a hold rating to a buy rating in a research note on Monday, September 16th. Zacks Investment Research raised shares of CalAmp from a sell rating to a hold rating in a research report on Wednesday, June 19th. TheStreet downgraded shares of CalAmp from a c rating to a d+ rating in a research report on Thursday, June 27th. Finally, Goldman Sachs Group downgraded shares of CalAmp from a neutral rating to a sell rating and decreased their target price for the company from $13.00 to $11.00 in a research report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $19.38.

CAMP stock opened at $11.05 on Thursday. 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 company’s 50-day simple moving average is $10.25 and its 200 day simple moving average is $11.68. CalAmp has a 52 week low of $9.35 and a 52 week high of $24.37. The company has a market capitalization of $374.97 million, a PE ratio of 15.93, a price-to-earnings-growth ratio of 3.44 and a beta of 1.97.

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

In related news, Director Larry J. Wolfe acquired 50,000 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were acquired at an average cost of $11.33 per share, for a total transaction of $566,500.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 4.90% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Royce & Associates LP purchased a new position in CalAmp during the 1st quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in CalAmp in the 2nd quarter worth approximately $62,000. Meeder Asset Management Inc. bought a new stake in CalAmp in the 2nd quarter worth approximately $69,000. US Bancorp DE lifted its position in CalAmp by 19.2% in the 2nd quarter. US Bancorp DE now owns 9,991 shares of the Wireless communications provider’s stock worth $117,000 after buying an additional 1,611 shares during the last quarter. Finally, Walleye Trading Advisors LLC bought a new stake in CalAmp in the second quarter valued at approximately $120,000. 78.15% of the stock is owned by institutional investors.

CalAmp Company Profile

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.

Recommended Story: Holder of Record

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for CalAmp (NASDAQ:CAMP)

Receive News & Ratings for CalAmp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CalAmp and related companies with's FREE daily email newsletter.