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. “
A number of other analysts have also commented on the company. TheStreet raised CalAmp from a “d+” rating to a “c” rating in a report on Friday, May 10th. ValuEngine raised CalAmp from a “sell” rating to a “hold” rating in a report on Saturday, May 4th. Craig Hallum reissued a “buy” rating and set a $16.00 price objective (down from $17.00) on shares of CalAmp in a report on Wednesday, May 1st. BidaskClub raised CalAmp from a “strong sell” rating to a “sell” rating in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. lowered CalAmp from an “overweight” rating to a “neutral” rating and set a $17.00 price objective for the company. in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $20.50.
CalAmp (NASDAQ:CAMP) last posted its quarterly earnings results on Tuesday, April 30th. The Wireless communications provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $84.40 million for the quarter, compared to the consensus estimate of $88.58 million. CalAmp had a return on equity of 14.66% and a net margin of 5.06%. The firm’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 EPS. On average, equities research analysts forecast that CalAmp will post 0.49 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the business. Premia Global Advisors LLC bought a new position in shares of CalAmp in the first quarter valued at approximately $25,000. Royce & Associates LP bought a new position in shares of CalAmp in the first quarter valued at approximately $26,000. Group One Trading L.P. bought a new position in shares of CalAmp in the fourth quarter valued at approximately $34,000. Quantamental Technologies LLC bought a new position in shares of CalAmp in the first quarter valued at approximately $70,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of CalAmp by 19.8% in the first quarter. PNC Financial Services Group Inc. now owns 7,905 shares of the Wireless communications provider’s stock valued at $100,000 after acquiring an additional 1,308 shares in the last quarter. 79.90% of the stock is owned by hedge funds and other institutional investors.
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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