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BidaskClub Lowers CalAmp (NASDAQ:CAMP) to Hold

BidaskClub lowered shares of CalAmp (NASDAQ:CAMP) from a buy rating to a hold rating in a research note issued to investors on Saturday, BidAskClub reports.

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A number of other equities analysts have also recently weighed in on the company. Northland Securities restated a buy rating and issued a $20.00 price target on shares of CalAmp in a report on Monday, October 28th. Canaccord Genuity set a $24.00 price target on CalAmp and gave the stock a buy rating in a report on Friday, September 27th. Finally, ValuEngine upgraded CalAmp from a hold rating to a buy rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. CalAmp presently has an average rating of Buy and a consensus price target of $19.25.

CAMP stock traded down $0.22 during trading on Friday, hitting $11.10. The stock had a trading volume of 274,500 shares, compared to its average volume of 328,258. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.36 and a current ratio of 1.59. CalAmp has a 1-year low of $9.35 and a 1-year high of $20.22. The stock has a market cap of $406.03 million, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 4.56 and a beta of 1.96. The company’s 50 day moving average price is $10.90 and its two-hundred day moving average price is $11.18.

CalAmp (NASDAQ:CAMP) last issued its earnings results on Thursday, September 26th. The Wireless communications provider reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.11. The business had revenue of $93.20 million during the quarter, compared to analysts’ expectations of $91.50 million. CalAmp had a positive return on equity of 9.04% and a negative net margin of 1.50%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 EPS. As a group, sell-side analysts forecast that CalAmp will post 0.27 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Tennessee Treasury Department raised its position 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 purchasing an additional 1,221 shares in the last quarter. US Bancorp DE raised its position in shares of CalAmp by 19.2% in the 2nd quarter. US Bancorp DE now owns 9,991 shares of the Wireless communications provider’s stock valued at $117,000 after purchasing an additional 1,611 shares in the last quarter. Bbva USA Bancshares Inc. raised its position in shares of CalAmp by 14.3% in the 2nd quarter. Bbva USA Bancshares Inc. now owns 16,883 shares of the Wireless communications provider’s stock valued at $197,000 after purchasing an additional 2,114 shares in the last quarter. Man Group plc raised its position 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 purchasing an additional 3,514 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of CalAmp by 5.0% in the 3rd quarter. Rhumbline Advisers now owns 107,920 shares of the Wireless communications provider’s stock valued at $1,243,000 after purchasing an additional 5,108 shares in the last quarter. Hedge funds and other institutional investors own 76.58% of the company’s stock.

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.

Further Reading: Capital Gains Distribution

Analyst Recommendations for CalAmp (NASDAQ:CAMP)

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