CalAmp Corp. (NASDAQ:CAMP), a leading provider of wireless products, services and solutions, congratulates its customer, the City of Dayton, Ohio on being honored in the Fleet Management category at the Connected World® Awards for its innovative deployment of GovOutlook™,CalAmp’s Esri®-based automatic vehicle location (AVL) solution. Held annually as a part of the Connected World Conference, the awards recognize pioneering enterprises from a diverse range of industries and sectors that have successfully leveraged Machine-to-Machine (M2M) technology and connected devices to solve a critical pain point within their organizations with quantifiable results.
The City of Dayton selected CalAmp’s GovOutlook AVL solution to better manage the City’s diverse fleets by tracking vehicle and driver activity for their public works and water utility departments. Since the original deployment, the GovOutlook-enabled fleet has grown to over 240 vehicles. The solution provides the City with a consolidated view of their vehicles’ and drivers’ locations in real-time and has led to improved customer response times and driver safety.
“CalAmp provides the technology we need to better manage our drivers and ﬂeet. As a result, we’ve experienced fuel savings and improved customer service,” said Fred Stovall, Director of Public Works for theCity of Dayton.
The City of Dayton’s solution combines GovOutlook with CalAmp’s LMU-4200™, an enhanced mobile telematics device designed to support customers with a variety of vehicle interfaces within their fleet. Key to the City of Dayton’s implementation is its innovative integration of in-cab driver ID technology. To accomplish this, GovOutlook interfaces with radio frequency identiﬁcation (RFID) devices installed in each vehicle. These RFID devices feature an alarm that is activated when the driver places the keys in the ignition, which requires them to then scan their ID badge to disable the alarm. This provides real-time driver authentication that identifies which City employee is operating a specific vehicle and the activity, location and status associated with that vehicle. In addition, GovOutlook interfaces with an in-vehicle sensor, which notifies the ﬂeet manager when heavy equipment attached to the vehicle is powered on. The complete solution provides theCity of Dayton with detailed visibility into all aspects of their fleet to improve efficiency, control costs and comply with mandated safety standards and policies.
“CalAmp commends the City of Dayton on their vision and innovative implementation of GovOutlook and congratulates them for their well-deserved 2015 Connected World Award,” said Justin Schmid, CalAmp’sSenior VP Marketing and Business Development. (Original Source)
Shares of Calamp closed yesterday at $16.75 . CAMP has a 1-year high of $26.04 and a 1-year low of $14.74. The stock’s 50-day moving average is $17.64 and its 200-day moving average is $18.14.
On the ratings front, Calamp has been the subject of a number of recent research reports. In a report issued on March 17, Aegis Capital Corp. analyst Michael Rindos initiated coverage with a Buy rating on CAMP and a price target of $25, which implies an upside of 49.3% from current levels. Separately, on March 9, Canaccord Genuity’s Michael Walkley maintained a Buy rating on the stock and has a price target of $26.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Michael Rindos and Michael Walkley have a total average return of 3.6% and 24.3% respectively. Rindos has a success rate of 25.0% and is ranked #2417 out of 3572 analysts, while Walkley has a success rate of 70.5% and is ranked #8.
In total, 6 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $16.75 which is 52.2% above where the stock closed yesterday.
CalAmp Corp provides wireless communications solutions applications to customers. Its business activities are organized into its Wireless DataCom and Satellite business segments.