CalAmp Corp. (NASDAQ:CAMP), a leading provider of wireless products, services and solutions, announced that it has achieved Platinum Level Certification as part of the Caterpillar Inc. (NYSE:CAT) Supplier Quality Excellence Process (SQEP). Certification recognizes suppliers that demonstrate a commitment to excellence and that drive a “zero defects” culture within their organizations. Levels include Bronze, Silver, Gold and Platinum, designated in order of increasingly stringent criteria for suppliers who meet or exceed standards such as product quality and delivery performance measured over a calendar year.
“We are honored to be recognized by the world’s leading heavy equipment manufacturer. Caterpillar’s quality program is the best in the industry and it is a significant achievement for CalAmp to be awarded platinum certification in our first year as a supplier. It says a great deal about our dedication to product quality and customer service,” said Michael Zachan, Senior Vice President and General Manager of CalAmp’s Wireless Network business.
Zachan noted that as a Caterpillar supplier, CalAmp provides the company with ruggedized wireless radios that enable data communications for heavy equipment deployed worldwide. (Original Source)
Shares of Calamp closed yesterday at $17.05. CAMP has a 1-year high of $21.82 and a 1-year low of $14.01. The stock’s 50-day moving average is $16.33 and its 200-day moving average is $18.06.
On the ratings front, Calamp has been the subject of a number of recent research reports. In a report issued on September 14, Canaccord Genuity analyst Michael Walkley reiterated a Buy rating on CAMP, with a price target of $26, which represents a potential upside of 52.5% from where the stock is currently trading. Separately, on July 1, Northland Securities’ Michael Latimore maintained a Buy rating on the stock and has a price target of $28.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Michael Walkley and Michael Latimore have a total average return of 17.5% and -4.8% respectively. Walkley has a success rate of 60.7% and is ranked #17 out of 3768 analysts, while Latimore has a success rate of 42.6% and is ranked #3520.
CalAmp Corp provides wireless communications solutions applications to customers. Its business activities are organized into its Wireless DataCom and Satellite business segments.