CalAmp Corp. (NASDAQ:CAMP) Receives $19.86 Average Price Target from Brokerages

CalAmp Corp. (NASDAQ:CAMP) has been given a consensus rating of “Hold” by the twelve brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $19.86.

CAMP has been the subject of a number of research analyst reports. Northland Securities upgraded CalAmp from a “market perform” rating to an “outperform” rating in a report on Friday, June 28th. Goldman Sachs Group cut CalAmp from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $13.00 to $11.00 in a report on Wednesday, May 29th. ValuEngine upgraded CalAmp from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. BidaskClub cut CalAmp from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Finally, Zacks Investment Research upgraded CalAmp from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th.

In other news, Director Larry J. Wolfe bought 50,000 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was bought at an average cost of $11.33 per share, for a total transaction of $566,500.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 4.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in CAMP. Dimensional Fund Advisors LP grew its stake in CalAmp by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,708,889 shares of the Wireless communications provider’s stock worth $22,233,000 after buying an additional 42,993 shares in the last quarter. Geode Capital Management LLC grew its stake in CalAmp by 10.9% in the 4th quarter. Geode Capital Management LLC now owns 410,280 shares of the Wireless communications provider’s stock worth $5,337,000 after buying an additional 40,243 shares in the last quarter. Principal Financial Group Inc. grew its stake in CalAmp by 3.7% in the 4th quarter. Principal Financial Group Inc. now owns 312,748 shares of the Wireless communications provider’s stock worth $4,069,000 after buying an additional 11,112 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its stake in CalAmp by 423.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,925 shares of the Wireless communications provider’s stock worth $155,000 after buying an additional 9,648 shares in the last quarter. Finally, Tributary Capital Management LLC grew its stake in CalAmp by 14.8% in the 1st quarter. Tributary Capital Management LLC now owns 949,971 shares of the Wireless communications provider’s stock worth $11,951,000 after buying an additional 122,219 shares in the last quarter. Institutional investors own 77.61% of the company’s stock.

Shares of NASDAQ CAMP traded down $0.17 during mid-day trading on Thursday, reaching $9.53. 316,782 shares of the company’s stock were exchanged, compared to its average volume of 337,036. The firm has a market capitalization of $344.70 million, a price-to-earnings ratio of 14.64, a PEG ratio of 2.90 and a beta of 1.98. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.40 and a current ratio of 1.60. CalAmp has a 52-week low of $9.48 and a 52-week high of $24.37. The company’s 50-day moving average is $10.95 and its 200-day moving average is $12.36.

CalAmp (NASDAQ:CAMP) last released its quarterly earnings results on Thursday, June 27th. The Wireless communications provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.18). The business had revenue of $89.10 million for the quarter, compared to analysts’ expectations of $86.91 million. CalAmp had a return on equity of 11.85% and a net margin of 0.33%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.29 earnings per share. As a group, equities analysts predict that CalAmp will post 0.36 earnings per share for the current fiscal year.

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.

Further Reading: What is meant by a buy rating?

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 MarketBeat.com's FREE daily email newsletter.