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.
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.
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