CalAmp (CAMP) Upgraded to Buy at Zacks Investment Research

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CalAmp (NASDAQ:CAMP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm presently has a $16.00 price target on the Wireless communications provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 10.96% from the company’s current price.

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 brokerages also recently weighed in on CAMP. JPMorgan Chase & Co. set a $18.00 price target on CalAmp and gave the company a “hold” rating in a report on Friday, December 21st. Canaccord Genuity cut their price target on CalAmp from $25.00 to $23.00 and set a “buy” rating for the company in a report on Friday, December 21st. Northland Securities downgraded CalAmp from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 11th. TheStreet downgraded CalAmp from a “c” rating to a “d+” rating in a report on Wednesday, January 2nd. Finally, BidaskClub downgraded CalAmp from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $21.44.

CAMP stock traded down $0.08 on Wednesday, reaching $14.42. The company had a trading volume of 224,529 shares, compared to its average volume of 342,180. CalAmp has a 1 year low of $10.91 and a 1 year high of $24.85. The company has a debt-to-equity ratio of 1.35, a quick ratio of 3.96 and a current ratio of 4.29. The firm has a market cap of $499.15 million, a P/E ratio of 15.67, a PEG ratio of 1.87 and a beta of 1.88.

CalAmp (NASDAQ:CAMP) last issued its quarterly earnings results on Thursday, December 20th. The Wireless communications provider reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.09. The company had revenue of $88.50 million during the quarter, compared to the consensus estimate of $88.26 million. CalAmp had a return on equity of 15.40% and a net margin of 0.63%. CalAmp’s revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 EPS. On average, research analysts predict that CalAmp will post 0.8 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Engineers Gate Manager LP acquired a new stake in shares of CalAmp during the 3rd quarter worth $204,000. Eagle Boston Investment Management Inc. increased its holdings in shares of CalAmp by 2.1% during the 3rd quarter. Eagle Boston Investment Management Inc. now owns 592,361 shares of the Wireless communications provider’s stock worth $14,192,000 after buying an additional 12,276 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of CalAmp by 74.3% during the 3rd quarter. Panagora Asset Management Inc. now owns 126,742 shares of the Wireless communications provider’s stock worth $3,037,000 after buying an additional 54,026 shares during the last quarter. Bessemer Group Inc. acquired a new stake in shares of CalAmp during the 3rd quarter worth $101,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of CalAmp during the 3rd quarter worth $1,667,000. Institutional investors and hedge funds own 80.82% of the company’s stock.

About CalAmp

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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