Zacks Investment Research Downgrades CalAmp (NASDAQ:CAMP) to Sell

Zacks Investment Research lowered shares of CalAmp (NASDAQ:CAMP) from a hold rating to a sell rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “CalAmp Corp. is a leading provider of wireless communications products that enable anytime/anywhere access to critical information, data and entertainment content. With comprehensive capabilities ranging from product design and development through volume production, CalAmp delivers cost-effective high quality solutions to a broad array of customers and end markets. CalAmp is the leading supplier of Direct Broadcast Satellite outdoor customer premise equipment to the U.S. satellite television market. The Company also provides wireless data communication solutions for the telemetry and asset tracking markets, private wireless networks, public safety communications and critical infrastructure and process control applications. “

Several other equities research analysts have also recently issued reports on CAMP. BidaskClub cut shares of CalAmp from a buy rating to a hold rating in a research report on Saturday, November 9th. ValuEngine raised shares of CalAmp from a buy rating to a strong-buy rating in a research report on Friday, December 27th. Canaccord Genuity decreased their target price on shares of CalAmp from $24.00 to $17.00 and set an in-line rating on the stock in a research report on Friday, December 20th. JPMorgan Chase & Co. decreased their target price on shares of CalAmp from $15.00 to $14.00 and set a neutral rating on the stock in a research report on Friday, December 20th. Finally, Craig Hallum decreased their target price on shares of CalAmp from $16.00 to $14.00 and set a buy rating on the stock in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. CalAmp presently has an average rating of Hold and an average target price of $14.86.

Shares of CAMP traded down $0.09 during mid-day trading on Wednesday, hitting $9.90. The company had a trading volume of 5,743 shares, compared to its average volume of 709,380. The business’s 50-day simple moving average is $10.07 and its 200-day simple moving average is $10.55. The company has a quick ratio of 1.61, a current ratio of 1.95 and a debt-to-equity ratio of 1.07. CalAmp has a 1-year low of $8.99 and a 1-year high of $14.91. The stock has a market cap of $337.49 million, a PE ratio of 24.70, a P/E/G ratio of 5.55 and a beta of 1.90.

CalAmp (NASDAQ:CAMP) last released its earnings results on Thursday, December 19th. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. CalAmp had a negative net margin of 3.36% and a positive return on equity of 6.90%. The business had revenue of $96.60 million for the quarter, compared to analysts’ expectations of $95.11 million. During the same period last year, the company earned $0.25 earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis. On average, sell-side analysts expect that CalAmp will post 0.18 earnings per share for the current year.

In related news, CEO Michael J. Burdiek sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $10.00, for a total value of $300,000.00. Following the transaction, the chief executive officer now owns 645,020 shares in the company, valued at $6,450,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.90% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC raised its stake in shares of CalAmp by 84.3% during the third quarter. Squarepoint Ops LLC now owns 66,578 shares of the Wireless communications provider’s stock valued at $767,000 after purchasing an additional 30,453 shares during the period. First Trust Advisors LP acquired a new stake in shares of CalAmp during the third quarter worth approximately $879,000. California Public Employees Retirement System grew its position in shares of CalAmp by 7.1% during the third quarter. California Public Employees Retirement System now owns 358,554 shares of the Wireless communications provider’s stock worth $4,131,000 after buying an additional 23,920 shares in the last quarter. State of Tennessee Treasury Department grew its position in shares of CalAmp by 8.5% during the third quarter. State of Tennessee Treasury Department now owns 15,530 shares of the Wireless communications provider’s stock worth $179,000 after buying an additional 1,221 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of CalAmp by 5.0% during the third quarter. Rhumbline Advisers now owns 107,920 shares of the Wireless communications provider’s stock worth $1,243,000 after buying an additional 5,108 shares in the last quarter. Institutional investors own 78.45% of the company’s stock.

About CalAmp

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.

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