A number of other research firms also recently weighed in on CAMP. Goldman Sachs Group downgraded CalAmp from a neutral rating to a sell rating and dropped their price target for the stock from $13.00 to $11.00 in a research note on Wednesday, May 29th. Zacks Investment Research raised CalAmp from a sell rating to a hold rating in a report on Wednesday, June 19th. BidaskClub raised CalAmp from a sell rating to a hold rating in a report on Saturday, June 29th. Northland Securities raised CalAmp from a market perform rating to an outperform rating in a report on Friday, June 28th. Finally, Craig Hallum reaffirmed a buy rating and issued a $16.00 price target (down from $17.00) on shares of CalAmp in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $19.38.
Shares of NASDAQ CAMP traded down $0.42 during trading on Thursday, reaching $10.51. The company had a trading volume of 371,633 shares, compared to its average volume of 333,129. The company has a fifty day simple moving average of $10.94. CalAmp has a 12 month low of $9.95 and a 12 month high of $24.37. The company has a market cap of $367.57 million, a PE ratio of 15.61, a P/E/G ratio of 3.10 and a beta of 1.98. The company has a current ratio of 1.60, a quick ratio of 1.40 and a debt-to-equity ratio of 1.01.
In related news, Director Larry J. Wolfe acquired 50,000 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were purchased at an average price of $11.33 per share, for a total transaction of $566,500.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.90% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP purchased a new position in shares of CalAmp in the first quarter worth about $26,000. Quantamental Technologies LLC bought a new stake in shares of CalAmp in the first quarter worth about $70,000. Stevens Capital Management LP bought a new stake in shares of CalAmp in the second quarter worth about $146,000. Metropolitan Life Insurance Co. NY grew its stake in shares of CalAmp by 423.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,925 shares of the Wireless communications provider’s stock worth $155,000 after purchasing an additional 9,648 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. grew its stake in shares of CalAmp by 9.3% in the first quarter. Bbva Compass Bancshares Inc. now owns 14,769 shares of the Wireless communications provider’s stock worth $186,000 after purchasing an additional 1,260 shares during the last quarter. Hedge funds and other institutional investors own 79.24% of the company’s stock.
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.
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