CalAmp (NASDAQ:CAMP) Rating Lowered to Hold at BidaskClub

CalAmp (NASDAQ:CAMP) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Friday, BidAskClub reports.

Other equities analysts have also recently issued reports about the company. ValuEngine cut CalAmp from a “strong-buy” rating to a “buy” rating in a report on Friday, May 1st. Zacks Investment Research cut CalAmp from a “hold” rating to a “sell” rating in a research report on Tuesday, June 9th. Canaccord Genuity reaffirmed a “buy” rating and issued a $11.00 price target on shares of CalAmp in a research report on Wednesday, May 6th. Jefferies Financial Group raised CalAmp from a “hold” rating to a “buy” rating and set a $8.25 price target for the company in a research report on Friday, April 17th. Finally, Goldman Sachs Group cut their price objective on CalAmp from $7.75 to $5.00 and set a “sell” rating for the company in a research report on Thursday, March 19th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $11.18.

Shares of CalAmp stock traded up $0.51 during trading hours on Friday, reaching $8.20. The stock had a trading volume of 14,487 shares, compared to its average volume of 430,329. The company has a current ratio of 1.96, a quick ratio of 1.66 and a debt-to-equity ratio of 1.46. CalAmp has a 1 year low of $3.70 and a 1 year high of $12.32. The firm has a market capitalization of $259.09 million, a price-to-earnings ratio of -3.52 and a beta of 2.42. The firm has a 50 day simple moving average of $7.40 and a two-hundred day simple moving average of $7.99.

CalAmp (NASDAQ:CAMP) last issued its quarterly earnings data on Thursday, June 25th. The Wireless communications provider reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.07. The firm had revenue of $80.22 million during the quarter, compared to analyst estimates of $75.29 million. CalAmp had a positive return on equity of 2.90% and a negative net margin of 21.66%. CalAmp’s quarterly revenue was down 9.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.12 EPS. Sell-side analysts forecast that CalAmp will post -0.2 EPS for the current year.

In other news, Director Amal M. Johnson bought 30,000 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was acquired at an average cost of $6.29 per share, for a total transaction of $188,700.00. Also, CEO Jeffery R. Gardner acquired 5,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were bought at an average price of $6.86 per share, with a total value of $34,300.00. 3.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in CAMP. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of CalAmp during the fourth quarter valued at about $33,000. Advisor Group Holdings Inc. bought a new position in shares of CalAmp during the 1st quarter valued at approximately $40,000. Janney Montgomery Scott LLC bought a new position in shares of CalAmp during the 1st quarter valued at approximately $50,000. BNP Paribas Arbitrage SA grew its position in shares of CalAmp by 24.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 13,331 shares of the Wireless communications provider’s stock valued at $60,000 after acquiring an additional 2,581 shares during the period. Finally, US Bancorp DE lifted its stake in shares of CalAmp by 87.7% during the 1st quarter. US Bancorp DE now owns 16,317 shares of the Wireless communications provider’s stock valued at $73,000 after buying an additional 7,623 shares in the last quarter. Institutional investors and hedge funds own 76.10% 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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Analyst Recommendations for CalAmp (NASDAQ:CAMP)

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