CalAmp (CAMP) Upgraded to “Overweight” by First Analysis

First Analysis upgraded shares of CalAmp (NASDAQ:CAMP) from an equal weight rating to an overweight rating in a research report sent to investors on Friday, MarketBeat.com reports. They currently have $29.00 price objective on the Wireless communications provider’s stock.

A number of other brokerages also recently issued reports on CAMP. Zacks Investment Research downgraded CalAmp from a hold rating to a sell rating in a report on Thursday, December 28th. ValuEngine downgraded CalAmp from a buy rating to a hold rating in a report on Friday, December 1st. Canaccord Genuity reiterated a buy rating and issued a $27.00 price target on shares of CalAmp in a report on Thursday, December 21st. B. Riley reiterated a buy rating and issued a $28.00 price target on shares of CalAmp in a report on Wednesday, January 3rd. Finally, BidaskClub upgraded CalAmp from a hold rating to a buy rating in a report on Saturday, January 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $26.33.

Shares of CalAmp (NASDAQ:CAMP) opened at $24.73 on Friday. The company has a current ratio of 2.76, a quick ratio of 2.36 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $880.42, a price-to-earnings ratio of 52.62 and a beta of 1.73. CalAmp has a 1 year low of $15.27 and a 1 year high of $25.45.

CalAmp (NASDAQ:CAMP) last issued its earnings results on Thursday, December 21st. The Wireless communications provider reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.07. The business had revenue of $93.67 million during the quarter, compared to analyst estimates of $91.10 million. CalAmp had a return on equity of 19.20% and a net margin of 5.00%. CalAmp’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 EPS. equities research analysts predict that CalAmp will post 0.92 earnings per share for the current year.

In related news, CEO Michael J. Burdiek sold 4,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $24.35, for a total transaction of $97,400.00. Following the transaction, the chief executive officer now directly owns 487,434 shares in the company, valued at approximately $11,869,017.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael J. Burdiek sold 9,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $21.68, for a total value of $195,120.00. Following the transaction, the chief executive officer now owns 492,434 shares in the company, valued at $10,675,969.12. The disclosure for this sale can be found here. Insiders sold a total of 18,000 shares of company stock worth $408,520 over the last quarter. Company insiders own 5.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. LS Investment Advisors LLC grew its stake in CalAmp by 380.1% during the 4th quarter. LS Investment Advisors LLC now owns 5,776 shares of the Wireless communications provider’s stock worth $124,000 after buying an additional 4,573 shares during the last quarter. FDx Advisors Inc. purchased a new position in CalAmp during the 3rd quarter worth $214,000. Raymond James & Associates purchased a new position in CalAmp during the 4th quarter worth $214,000. Teacher Retirement System of Texas purchased a new position in CalAmp during the 4th quarter worth $259,000. Finally, Paloma Partners Management Co purchased a new position in CalAmp during the 4th quarter worth $292,000. Hedge funds and other institutional investors own 71.26% of the company’s stock.

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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.

Analyst Recommendations for CalAmp (NASDAQ:CAMP)

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