CalAmp (CAMP) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of CalAmp (NASDAQ:CAMP) from a hold rating to a sell rating in a research report released on Monday, 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 upgraded CalAmp from a strong sell rating to a sell rating in a research report on Wednesday, January 9th. JPMorgan Chase & Co. cut CalAmp from an overweight rating to a neutral rating and set a $17.00 price target on the stock. in a research report on Monday, March 25th. ValuEngine upgraded CalAmp from a sell rating to a hold rating in a research report on Saturday. Finally, Craig Hallum reiterated a buy rating and set a $16.00 price target (down from $17.00) on shares of CalAmp in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $21.33.

Shares of CAMP opened at $14.05 on Monday. CalAmp has a twelve month low of $10.91 and a twelve month high of $24.52. The stock has a market cap of $470.36 million, a PE ratio of 16.28, a P/E/G ratio of 2.93 and a beta of 1.86. The company has a current ratio of 4.83, a quick ratio of 4.44 and a debt-to-equity ratio of 1.34.

CalAmp (NASDAQ:CAMP) last announced its quarterly earnings results on Tuesday, April 30th. The Wireless communications provider reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.04. CalAmp had a return on equity of 14.66% and a net margin of 5.06%. The firm had revenue of $84.40 million for the quarter, compared to analysts’ expectations of $88.58 million. During the same period in the prior year, the business posted $0.30 earnings per share. The company’s revenue was down 10.6% on a year-over-year basis. As a group, sell-side analysts predict that CalAmp will post 0.49 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Group One Trading L.P. purchased a new position in shares of CalAmp during the fourth quarter worth about $34,000. Quantamental Technologies LLC purchased a new position in shares of CalAmp during the first quarter worth about $70,000. Metropolitan Life Insurance Co. NY grew its holdings in shares of CalAmp by 423.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,925 shares of the Wireless communications provider’s stock worth $155,000 after purchasing an additional 9,648 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new position in shares of CalAmp during the fourth quarter worth about $172,000. Finally, Bbva Compass Bancshares Inc. grew its holdings in shares of CalAmp by 9.3% during the first quarter. Bbva Compass Bancshares Inc. now owns 14,769 shares of the Wireless communications provider’s stock worth $186,000 after purchasing an additional 1,260 shares in the last quarter. 79.74% of the stock is owned by institutional investors.

CalAmp Company Profile

CalAmp Corp. provides in telematics systems, and software and subscription services worldwide. The company provides 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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