Why Has Chardan Capital Given CalAmp Corporation (NASDAQ:CAMP) a $24.00 Price Target
In a recent report sent to clients and investors on Monday morning, research professionals at Chardan Capital launched coverage for CalAmp Corporation (NASDAQ:CAMP) shares. The firm has decided to set a “Buy” rating along with a $24.00, adding 27.80% to the target.
The stock increased 2.45% or $0.45 during the last trading session, striking $18.78. Approximately 155 shares of stock traded hands. CalAmp Corp. (NASDAQ:CAMP) has declined 5.20% since May 4, 2015 and is downtrending. It has underperformed by 4.12% the S&P500.
Analysts await CalAmp Corp. (NASDAQ:CAMP) to reports earnings on December, 22. They expect $0.25 earnings per share, up 8.70% or $0.02 from last year’s $0.23 per share. CAMP’s profit will be $9.14M for 18.78 P/E if the $0.25 EPS becomes reality. After $0.25 actual earnings per share reported by CalAmp Corp. for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
The overall sentiment of institutions has decreased to 1.05 in Q2 2015. Its down 0.12, from 1.17 in 2015Q2. The ratio is negative, as 21 institutions have sold all the shares of CalAmp Corp. that they owned while 44 funds have taken shares off the table. 19 funds have purchased shares for the first time while 49 added to their positions. These institutions now hold 30.27 million shares or 24.41% more than the 24.33 million shares they owned in 2015Q2.
The Fund Harvey Partners Llc currently is holding shares equating to 2.69% of its total portfolio in CalAmp Corp. representing a total of 270,000 shares. Another fund,Falcon Point Capital Llc, is holding a total of 402,353 shares equating to 2.32% of their holdings. Additionally, Summit Creek Advisors Llc has a 882,168 share stake in CalAmp Corp. which represents 2.3% of their total portfolio. The Fund, Millrace Asset Group Inc., based out of Pennsylvania, has also built up a stake in the stock, which represents a total of 1.94% of their total portfolio. Finally Alphaone Investment Services Llc, a fund which is based in the state of Pennsylvania reported a total holdings of 241,707 shares.
Insider activity is a very important aspect to track on any stock. Going back to October 8, 2015, shareholders of CalAmp Corp. have witnessed 0 insider purchases, and a total of 4 insider sales equating to a net activity of approximately $420,115 . Vitelle Richard K sold 7,500 shares worth approximately $145,800. Sarkissian Garo Sarkis sold 6,243 shares worth approximately $125,297.
CalAmp Corp. is a provider of wireless communications solutions for a range of applications to clients globally. The company has a market cap of $686.48 million. The Firm has two business divisions: Wireless DataCom and Satellite. It has 38.01 P/E ratio. 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.
According to Zacks Investment Research, “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.” Get a free copy of the Zacks research report on CalAmp Corp. (CAMP).