CalAmp (CAMP) Rating Lowered to Hold at ValuEngine

CalAmp (NASDAQ:CAMP) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Friday.

Other equities research analysts have also recently issued reports about the company. B. Riley reissued a “buy” rating and issued a $28.00 target price on shares of CalAmp in a research note on Wednesday, October 4th. TheStreet raised CalAmp from a “c” rating to a “b” rating in a research note on Friday, September 29th. BidaskClub cut CalAmp from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. J P Morgan Chase & Co cut CalAmp from a “neutral” rating to an “underweight” rating and set a $22.00 target price on the stock. in a research note on Wednesday, October 4th. Finally, Zacks Investment Research cut CalAmp from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.14.

CalAmp (NASDAQ:CAMP) traded down $0.49 during midday trading on Friday, hitting $22.36. The stock had a trading volume of 201,055 shares, compared to its average volume of 173,413. CalAmp has a 52-week low of $14.12 and a 52-week high of $24.68. The stock has a market capitalization of $796.04, a PE ratio of 25.12 and a beta of 1.64. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.36 and a current ratio of 2.72.

CalAmp (NASDAQ:CAMP) last released its earnings results on Thursday, September 28th. The Wireless communications provider reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. CalAmp had a return on equity of 18.18% and a net margin of 1.31%. The firm had revenue of $89.80 million for the quarter, compared to analysts’ expectations of $88.72 million. During the same period in the prior year, the firm posted $0.27 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. equities research analysts expect that CalAmp will post 0.95 earnings per share for the current year.

In related news, SVP Garo Sarkis Sarkissian sold 9,833 shares of the stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $23.89, for a total transaction of $234,910.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kimberly Alexy sold 25,000 shares of the stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $22.62, for a total value of $565,500.00. Following the sale, the director now directly owns 64,729 shares in the company, valued at $1,464,169.98. The disclosure for this sale can be found here. Insiders have sold 52,833 shares of company stock worth $1,216,660 over the last ninety days. 5.30% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of CalAmp by 3.3% during the second quarter. Vanguard Group Inc. now owns 2,012,399 shares of the Wireless communications provider’s stock valued at $40,911,000 after buying an additional 63,759 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of CalAmp by 9.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,735,058 shares of the Wireless communications provider’s stock valued at $35,274,000 after buying an additional 155,739 shares during the last quarter. State Street Corp boosted its position in shares of CalAmp by 4.4% during the second quarter. State Street Corp now owns 891,016 shares of the Wireless communications provider’s stock valued at $18,114,000 after buying an additional 37,172 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of CalAmp by 2.8% during the second quarter. Voya Investment Management LLC now owns 878,417 shares of the Wireless communications provider’s stock valued at $17,858,000 after buying an additional 23,819 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its position in shares of CalAmp by 23.7% during the second quarter. Rice Hall James & Associates LLC now owns 665,196 shares of the Wireless communications provider’s stock valued at $13,523,000 after buying an additional 127,640 shares during the last quarter. 72.31% of the stock is currently owned by institutional investors.

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CalAmp Company Profile

CalAmp Corp. (CalAmp) is a provider of wireless communications solutions for a range of applications to customers globally. The Company operates through two business segments: Wireless DataCom and Satellite. The Company’s Wireless DataCom segment offers solutions for mobile resource management (MRM) applications, the machine-to-machine (M2M) communications space and other markets that require connectivity anytime and anywhere.

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