CalAmp (NASDAQ:CAMP) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of CalAmp (NASDAQ:CAMP) from a hold rating to a sell rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “CalAmp Corp. is a leading provider of wireless communications products that enable anytime/anywhere access to critical information, data and entertainment content. With comprehensive capabilities ranging from product design and development through volume production, CalAmp delivers cost-effective high quality solutions to a broad array of customers and end markets. CalAmp is the leading supplier of Direct Broadcast Satellite outdoor customer premise equipment to the U.S. satellite television market. The Company also provides wireless data communication solutions for the telemetry and asset tracking markets, private wireless networks, public safety communications and critical infrastructure and process control applications. “

CAMP has been the topic of several other reports. BidaskClub cut shares of CalAmp from a buy rating to a hold rating in a research report on Saturday, November 9th. Craig Hallum decreased their target price on shares of CalAmp from $16.00 to $14.00 and set a buy rating on the stock in a research report on Friday, December 20th. Canaccord Genuity decreased their target price on shares of CalAmp from $24.00 to $17.00 and set an in-line rating on the stock in a research report on Friday, December 20th. JPMorgan Chase & Co. decreased their target price on shares of CalAmp from $15.00 to $14.00 and set a neutral rating on the stock in a research report on Friday, December 20th. Finally, ValuEngine upgraded shares of CalAmp from a buy rating to a strong-buy rating in a research report on Friday, December 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $14.86.

Shares of NASDAQ CAMP traded down $0.09 during mid-day trading on Wednesday, hitting $9.90. 5,743 shares of the company’s stock traded hands, compared to its average volume of 709,380. The company’s 50-day moving average is $10.07 and its two-hundred day moving average is $10.55. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.95 and a quick ratio of 1.61. The company has a market capitalization of $337.49 million, a P/E ratio of 24.70, a PEG ratio of 5.55 and a beta of 1.90. CalAmp has a 1 year low of $8.99 and a 1 year high of $14.91.

CalAmp (NASDAQ:CAMP) last announced its earnings results on Thursday, December 19th. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. The firm had revenue of $96.60 million for the quarter, compared to analysts’ expectations of $95.11 million. CalAmp had a negative net margin of 3.36% and a positive return on equity of 6.90%. The business’s revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. Equities analysts anticipate that CalAmp will post 0.18 EPS for the current fiscal year.

In other news, CEO Michael J. Burdiek sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $10.00, for a total value of $300,000.00. Following the sale, the chief executive officer now directly owns 645,020 shares of the company’s stock, valued at approximately $6,450,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.90% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE increased its stake in CalAmp by 19.2% during the 2nd quarter. US Bancorp DE now owns 9,991 shares of the Wireless communications provider’s stock worth $117,000 after buying an additional 1,611 shares during the period. Walleye Trading Advisors LLC acquired a new position in shares of CalAmp in the 2nd quarter valued at $120,000. State of Tennessee Treasury Department boosted its holdings in shares of CalAmp by 8.5% in the 3rd quarter. State of Tennessee Treasury Department now owns 15,530 shares of the Wireless communications provider’s stock valued at $179,000 after buying an additional 1,221 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of CalAmp by 126.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 25,835 shares of the Wireless communications provider’s stock valued at $297,000 after buying an additional 14,414 shares in the last quarter. Finally, Man Group plc boosted its holdings in shares of CalAmp by 13.4% in the 2nd quarter. Man Group plc now owns 29,700 shares of the Wireless communications provider’s stock valued at $347,000 after buying an additional 3,514 shares in the last quarter. 78.45% of the stock is currently owned by hedge funds and other institutional investors.

About CalAmp

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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