B. Riley Reiterates Buy Rating for CalAmp (CAMP)
CalAmp (NASDAQ:CAMP)‘s stock had its “buy” rating reissued by research analysts at B. Riley in a research report issued to clients and investors on Wednesday. They currently have a $28.00 price target on the Wireless communications provider’s stock. B. Riley’s price target indicates a potential upside of 24.33% from the company’s current price.
Several other research analysts have also recently issued reports on the company. Zacks Investment Research cut CalAmp from a “hold” rating to a “sell” rating in a research note on Thursday, December 28th. ValuEngine lowered CalAmp from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Northland Securities reaffirmed a “buy” rating and set a $22.00 target price on shares of CalAmp in a report on Tuesday, September 5th. JPMorgan Chase & Co. lowered CalAmp from a “neutral” rating to an “underweight” rating and set a $22.00 target price on the stock. in a report on Wednesday, October 4th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $27.00 target price on shares of CalAmp in a report on Thursday, December 21st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $25.29.
Shares of CalAmp (NASDAQ CAMP) traded up $0.29 during trading hours on Wednesday, hitting $22.52. The stock had a trading volume of 322,500 shares, compared to its average volume of 442,733. CalAmp has a 1 year low of $14.56 and a 1 year high of $24.68. The stock has a market capitalization of $799.45, a PE ratio of 47.91 and a beta of 1.63. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.36 and a current ratio of 2.76.
In other CalAmp news, SVP Garo Sarkis Sarkissian sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $22.00, for a total value of $66,000.00. Following the sale, the senior vice president now directly owns 195,289 shares of the company’s stock, valued at $4,296,358. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Burdiek sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $21.68, for a total value of $195,120.00. Following the completion of the sale, the chief executive officer now directly owns 492,434 shares in the company, valued at $10,675,969.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,000 shares of company stock worth $1,026,960. 5.30% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. TIAA CREF Investment Management LLC grew its holdings in CalAmp by 0.5% in 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 purchasing an additional 468 shares during the period. Baker Avenue Asset Management LP boosted its stake in shares of CalAmp by 1.5% in the second quarter. Baker Avenue Asset Management LP now owns 48,492 shares of the Wireless communications provider’s stock worth $986,000 after acquiring an additional 736 shares during the last quarter. Thrivent Financial For Lutherans boosted its stake in shares of CalAmp by 7.0% in the second quarter. Thrivent Financial For Lutherans now owns 21,360 shares of the Wireless communications provider’s stock worth $434,000 after acquiring an additional 1,390 shares during the last quarter. Connors Investor Services Inc. boosted its stake in shares of CalAmp by 1.5% in the second quarter. Connors Investor Services Inc. now owns 99,366 shares of the Wireless communications provider’s stock worth $2,020,000 after acquiring an additional 1,462 shares during the last quarter. Finally, Van Hulzen Asset Management LLC boosted its stake in shares of CalAmp by 21.0% in the third quarter. Van Hulzen Asset Management LLC now owns 15,770 shares of the Wireless communications provider’s stock worth $367,000 after acquiring an additional 2,740 shares during the last quarter. 72.14% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by Marea Informative and is the property of of Marea Informative. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US & international copyright & trademark law. The legal version of this piece of content can be read at https://www.mareainformativa.com/2018/01/05/b-riley-reiterates-buy-rating-for-calamp-camp.html.
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.
Receive News & Ratings for CalAmp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CalAmp and related companies with MarketBeat.com's FREE daily email newsletter.