Zacks Investment Research Lowers CalAmp (CAMP) to Sell

Zacks Investment Research cut shares of CalAmp (NASDAQ:CAMP) from a hold rating to a sell rating in a report published on Thursday, December 28th.

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. “

Several other analysts also recently weighed in on the stock. ValuEngine downgraded shares of CalAmp from a buy rating to a hold rating in a report on Friday, December 1st. Northland Securities restated a buy rating and issued a $22.00 price target on shares of CalAmp in a research note on Tuesday, September 5th. B. Riley restated a buy rating and issued a $28.00 price target on shares of CalAmp in a research note on Tuesday, December 19th. Canaccord Genuity reaffirmed a buy rating and set a $27.00 price objective on shares of CalAmp in a research report on Thursday, December 21st. Finally, JPMorgan Chase & Co. cut shares of CalAmp from a neutral rating to an underweight rating and set a $22.00 price objective for the company. in a research report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $25.29.

CalAmp (NASDAQ:CAMP) opened at $23.41 on Thursday. The company has a quick ratio of 2.36, a current ratio of 2.76 and a debt-to-equity ratio of 0.76. CalAmp has a 12 month low of $14.56 and a 12 month high of $24.68. The firm has a market cap of $833.43, a P/E ratio of 49.81 and a beta of 1.63.

CalAmp (NASDAQ:CAMP) last announced its quarterly earnings results on Thursday, December 21st. The Wireless communications provider reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.07. CalAmp had a net margin of 5.00% and a return on equity of 19.20%. The business had revenue of $93.67 million during the quarter, compared to the consensus estimate of $91.10 million. During the same quarter last year, the firm earned $0.21 EPS. The business’s revenue was up 12.4% compared to the same quarter last year. sell-side analysts predict that CalAmp will post 0.92 earnings per share for the current fiscal year.

In other CalAmp news, Director Kimberly Alexy sold 25,000 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $22.62, for a total transaction of $565,500.00. Following the transaction, the director now directly owns 64,729 shares in the company, valued at $1,464,169.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Burdiek sold 9,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $22.26, for a total transaction of $200,340.00. Following the completion of the sale, the chief executive officer now directly owns 502,434 shares in the company, valued at approximately $11,184,180.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,000 shares of company stock worth $1,026,960. Company insiders own 5.30% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. TIAA CREF Investment Management LLC lifted its stake in shares of CalAmp by 0.5% during the second quarter. TIAA CREF Investment Management LLC now owns 96,324 shares of the Wireless communications provider’s stock valued at $1,958,000 after buying an additional 468 shares during the period. Baker Avenue Asset Management LP raised its stake in CalAmp by 1.5% during the second quarter. Baker Avenue Asset Management LP now owns 48,492 shares of the Wireless communications provider’s stock worth $986,000 after purchasing an additional 736 shares during the period. Thrivent Financial For Lutherans raised its stake in CalAmp by 7.0% during the second quarter. Thrivent Financial For Lutherans now owns 21,360 shares of the Wireless communications provider’s stock worth $434,000 after purchasing an additional 1,390 shares during the period. Connors Investor Services Inc. raised its stake in CalAmp by 1.5% during the second quarter. Connors Investor Services Inc. now owns 99,366 shares of the Wireless communications provider’s stock worth $2,020,000 after purchasing an additional 1,462 shares during the period. Finally, US Bancorp DE increased its position in shares of CalAmp by 101.3% in the second quarter. US Bancorp DE now owns 5,284 shares of the Wireless communications provider’s stock worth $108,000 after acquiring an additional 2,659 shares in the last quarter. 72.10% of the stock is currently owned by institutional investors and hedge funds.

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About CalAmp

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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