CalAmp (NASDAQ:CAMP) Shares Pass Above 50-Day Moving Average on Disappointing Earnings

Shares of CalAmp Corp. (NASDAQ:CAMP) passed above its 50-day moving average during trading on Thursday following a stronger than expected earnings report. 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.

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

CAMP has been the subject of several recent analyst reports. Craig Hallum reiterated a “buy” rating and issued a $16.00 target price (down from $17.00) on shares of CalAmp in a research note on Wednesday, May 1st. TheStreet upgraded shares of CalAmp from a “d+” rating to a “c” rating in a research note on Friday, May 10th. Zacks Investment Research upgraded shares of CalAmp from a “sell” rating to a “hold” rating in a research note on Wednesday, June 5th. ValuEngine upgraded shares of CalAmp from a “sell” rating to a “hold” rating in a research note on Saturday, May 4th. Finally, BidaskClub upgraded shares of CalAmp from a “sell” rating to a “hold” rating in a research note on Saturday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. CalAmp presently has an average rating of “Hold” and an average price target of $19.38.

Hedge funds have recently modified their holdings of the business. Connors Investor Services Inc. increased its position in shares of CalAmp by 6.2% during the first quarter. Connors Investor Services Inc. now owns 134,046 shares of the Wireless communications provider’s stock worth $1,686,000 after acquiring an additional 7,824 shares in the last quarter. Royce & Associates LP bought a new stake in shares of CalAmp during the first quarter worth about $26,000. Cadence Capital Management LLC increased its position in shares of CalAmp by 1.8% during the first quarter. Cadence Capital Management LLC now owns 156,940 shares of the Wireless communications provider’s stock worth $1,974,000 after acquiring an additional 2,736 shares in the last quarter. Bbva Compass Bancshares Inc. increased its position in shares of CalAmp by 9.3% during the first quarter. Bbva Compass Bancshares Inc. now owns 14,769 shares of the Wireless communications provider’s stock worth $186,000 after acquiring an additional 1,260 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in shares of CalAmp by 79.9% during the first quarter. California Public Employees Retirement System now owns 386,647 shares of the Wireless communications provider’s stock worth $4,864,000 after acquiring an additional 171,713 shares in the last quarter. Hedge funds and other institutional investors own 79.59% of the company’s stock.

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

About CalAmp (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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