It is Poised to be a Bull Market for CalAmp Corp. (CAMP)

CalAmp Corp. (NASDAQ: CAMP) stock jumped 6.61% on Friday to $5.16 against a previous-day closing price of $4.84. With 1.04 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.52 million shares. During the session, the Communication Equipment company that operates in wider Technology sector, reached to the highest price of $5.30 whereas the lowest price it dropped to was $4.84. The 52-week range on CAMP shows that it touched its highest point at $12.23 and its lowest point at $3.90 during that stretch. It currently has a 1-year price target of $9.75. Beta for the stock currently stands at 2.41.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CAMP was up-trending over the past week, with a rise of 13.41%, but this was up by 19.72% over a month. Three-month performance dropped to -11.79% while six-month performance fell -13.86%. The stock lost -57.11% in the past year, while it has lost -26.91% so far this year. A look at the trailing 12-month EPS for CAMP yields -1.05 with Next year EPS estimates of 0.28. For the next quarter, that number is -0.03. This implies an EPS growth rate of -43.60% for this year and 337.50% for next year. EPS is expected to grow by 12.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -32.00%.

Float and Shares Shorts:

At present, 35.72 million CAMP shares are outstanding with a float of 34.54 million shares on hand for trading. On Jul 14, 2022, short shares totaled 1.68 million, which was 4.63% higher than short shares on Jun 14, 2022. In addition to Mr. Jeffery R. Gardner as the firm’s Pres, CEO & Director, Mr. Kurtis Joseph Binder serves as its Exec. VP, CFO & Principal Accounting Officer.

Institutional Ownership:

Through their ownership of 92.23% of CAMP’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 56.00% of CAMP, in contrast to 34.39% held by mutual funds. Shares owned by individuals account for 19.49%. As the largest shareholder in CAMP with 14.64% of the stake, BlackRock Fund Advisors holds 5,293,367 shares worth 5,293,367. A second-largest stockholder of CAMP, Trigran Investments, Inc., holds 3,565,743 shares, controlling over 9.86% of the firm’s shares. Aristotle Capital Boston LLC is the third largest shareholder in CAMP, holding 2,747,225 shares or 7.60% stake. With a 7.00% stake in CAMP, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 2,531,451 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.89% of CAMP stock, is the second-largest Mutual Fund holder. It holds 1,045,712 shares valued at 4.36 million. Royce Small-Cap Opportunity Fund holds 2.80% of the stake in CAMP, owning 1,011,300 shares worth 4.22 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CAMP since 6 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CAMP analysts setting a high price target of $13.00 and a low target of $5.00, the average target price over the next 12 months is $9.75. Based on these targets, CAMP could surge 151.94% to reach the target high and fall by -3.1% to reach the target low. Reaching the average price target will result in a growth of 88.95% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CAMP will report FY 2023 earnings on 04/19/2023. Analysts have provided yearly estimates in a range of $0.11 being high and -$0.22 being low. For CAMP, this leads to a yearly average estimate of -$0.08. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. CalAmp Corp. surprised analysts by -$0.07 when it reported -$0.10 EPS against a consensus estimate of -$0.03. The surprise factor in the prior quarter was $0.04. Based on analyst estimates, the high estimate for the next quarter is $0.02 and the low estimate is -$0.08. The average estimate for the next quarter is thus -$0.03.

Summary of Insider Activity:

Insiders traded CAMP stock several times over the past three months with 12 Buys and 1 Sells. In these transactions, 916,694 shares were bought while 3,458 shares were sold. The number of buy transactions has increased to 21 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 1,089,258 while 64,144 shares were sold.

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