CalAmp (NASDAQ:CAMP) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of CalAmp (NASDAQ:CAMP) from a hold rating to a buy rating in a research note published on Friday, BidAskClub reports.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of CalAmp from a sell rating to a hold rating in a research note on Wednesday, August 26th. Northland Securities reiterated a buy rating and set a $12.00 price target on shares of CalAmp in a research report on Monday, August 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $10.04.

CAMP opened at $8.46 on Friday. CalAmp has a fifty-two week low of $3.70 and a fifty-two week high of $12.14. The company has a debt-to-equity ratio of 1.67, a current ratio of 2.25 and a quick ratio of 1.94. The firm’s fifty day moving average price is $8.01 and its two-hundred day moving average price is $7.53. The company has a market capitalization of $296.27 million, a P/E ratio of -3.29 and a beta of 2.43.

CalAmp (NASDAQ:CAMP) last posted its quarterly earnings results on Thursday, September 24th. The Wireless communications provider reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.08. CalAmp had a negative net margin of 25.07% and a negative return on equity of 2.84%. The firm had revenue of $83.54 million for the quarter, compared to the consensus estimate of $76.84 million. During the same quarter in the previous year, the company earned $0.14 earnings per share. The business’s revenue was down 10.4% compared to the same quarter last year. On average, equities research analysts expect that CalAmp will post -0.25 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its position in CalAmp by 24.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 13,331 shares of the Wireless communications provider’s stock worth $60,000 after buying an additional 2,581 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of CalAmp by 4.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 290,513 shares of the Wireless communications provider’s stock worth $1,307,000 after purchasing an additional 13,383 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of CalAmp by 51.5% during the 1st quarter. Alliancebernstein L.P. now owns 46,920 shares of the Wireless communications provider’s stock worth $211,000 after purchasing an additional 15,950 shares during the last quarter. Legal & General Group Plc increased its stake in shares of CalAmp by 2.5% during the 1st quarter. Legal & General Group Plc now owns 89,863 shares of the Wireless communications provider’s stock worth $404,000 after purchasing an additional 2,161 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of CalAmp by 48.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,167 shares of the Wireless communications provider’s stock worth $77,000 after purchasing an additional 5,600 shares during the last quarter. 75.45% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for CalAmp (NASDAQ:CAMP)

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