CalAmp (NASDAQ:CAMP) Share Price Passes Above Fifty Day Moving Average Following Weak Earnings

CalAmp Corp. (NASDAQ:CAMP) shares crossed above its 50 day moving average during trading on Thursday after the company announced better than expected quarterly earnings. The stock has a 50 day moving average of $11.49 and traded as high as $10.54. CalAmp shares last traded at $10.39, with a volume of 17,541 shares traded.

The Wireless communications provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.18). CalAmp had a net margin of 5.06% and a return on equity of 14.66%. The business had revenue of $89.10 million for the quarter, compared to analysts’ expectations of $86.91 million. During the same quarter in the prior year, the firm posted $0.29 EPS. The business’s quarterly revenue was down 6.1% compared to the same quarter last year.

A number of brokerages have commented on CAMP. Craig Hallum restated a “buy” rating and issued a $16.00 target price (down previously from $17.00) on shares of CalAmp in a research note on Wednesday, May 1st. Zacks Investment Research downgraded CalAmp from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. ValuEngine upgraded CalAmp from a “sell” rating to a “hold” rating in a research note on Saturday, May 4th. BidaskClub upgraded CalAmp from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 25th. Finally, TheStreet upgraded CalAmp from a “d+” rating to a “c” rating in a research note on Friday, May 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. CalAmp presently has an average rating of “Hold” and an average price target of $19.38.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Royce & Associates LP acquired a new stake in shares of CalAmp in the first quarter worth about $26,000. Quantamental Technologies LLC acquired a new stake in shares of CalAmp in the first quarter worth about $70,000. Metropolitan Life Insurance Co. NY lifted its position 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 buying an additional 9,648 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in shares of CalAmp in the fourth quarter worth about $172,000. Finally, Bbva Compass Bancshares Inc. lifted its position 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 buying an additional 1,260 shares during the last quarter. Hedge funds and other institutional investors own 79.59% of the company’s stock.

The company has a 50-day moving average price of $11.39. The company has a market capitalization of $392.52 million, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 2.21 and a beta of 2.03. The company has a current ratio of 4.83, a quick ratio of 4.44 and a debt-to-equity ratio of 1.34.

CalAmp Company Profile (NASDAQ:CAMP)

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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