$68.66 Million in Sales Expected for CalAmp Corp. (NASDAQ:CAMP) This Quarter

Equities analysts predict that CalAmp Corp. (NASDAQ:CAMPGet Rating) will announce $68.66 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for CalAmp’s earnings, with the lowest sales estimate coming in at $68.40 million and the highest estimate coming in at $69.00 million. CalAmp reported sales of $81.95 million during the same quarter last year, which suggests a negative year over year growth rate of 16.2%. The business is scheduled to announce its next earnings report after the market closes on Monday, January 1st.

On average, analysts expect that CalAmp will report full year sales of $296.09 million for the current financial year, with estimates ranging from $295.80 million to $296.40 million. For the next fiscal year, analysts anticipate that the company will post sales of $302.70 million, with estimates ranging from $291.61 million to $318.10 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover CalAmp.

Several brokerages have issued reports on CAMP. StockNews.com began coverage on CalAmp in a report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research raised CalAmp from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 5th. Finally, Jefferies Financial Group decreased their target price on CalAmp from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, March 25th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, CalAmp currently has an average rating of “Buy” and a consensus price target of $13.88.

CalAmp stock opened at $5.77 on Friday. The company has a debt-to-equity ratio of 2.34, a current ratio of 2.04 and a quick ratio of 1.83. CalAmp has a 12 month low of $4.99 and a 12 month high of $14.51. The stock has a market capitalization of $207.17 million, a PE ratio of -7.30 and a beta of 2.29. The business has a 50 day simple moving average of $6.82 and a 200-day simple moving average of $7.88.

In other CalAmp news, CFO Kurtis Joseph Binder bought 13,500 shares of the firm’s stock in a transaction that occurred on Monday, January 24th. The stock was purchased at an average price of $5.38 per share, for a total transaction of $72,630.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffery R. Gardner bought 24,000 shares of the firm’s stock in a transaction that occurred on Monday, January 24th. The shares were acquired at an average price of $5.35 per share, with a total value of $128,400.00. The disclosure for this purchase can be found here. 1.80% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in CalAmp by 4.5% during the fourth quarter. BlackRock Inc. now owns 5,510,361 shares of the Wireless communications provider’s stock worth $38,903,000 after buying an additional 238,938 shares during the period. Trigran Investments Inc. increased its position in CalAmp by 27.2% during the third quarter. Trigran Investments Inc. now owns 3,239,301 shares of the Wireless communications provider’s stock worth $32,231,000 after buying an additional 693,157 shares during the period. Paradigm Capital Management Inc. NY increased its position in CalAmp by 594.3% during the third quarter. Paradigm Capital Management Inc. NY now owns 610,300 shares of the Wireless communications provider’s stock worth $6,072,000 after buying an additional 522,400 shares during the period. Geode Capital Management LLC increased its position in CalAmp by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 585,585 shares of the Wireless communications provider’s stock worth $4,134,000 after buying an additional 10,584 shares during the period. Finally, Wellington Management Group LLP increased its position in CalAmp by 53.8% during the third quarter. Wellington Management Group LLP now owns 366,700 shares of the Wireless communications provider’s stock worth $3,649,000 after buying an additional 128,200 shares during the period. 76.69% of the stock is currently owned by institutional investors.

About CalAmp (Get Rating)

CalAmp Corp. provides in telematics systems, and software and subscription services in the United States, Europe, the Middle East, Africa, South America, Asia and Pacific Rim, and internationally. The company offers telematics products, including asset tracking units, mobile telematics devices, fixed and mobile wireless gateways, and routers; and advanced telematics products for the broader connected vehicle and 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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