Stock Update (NASDAQ:CAMP): CalAmp Announces Volume Shipments to Partner for Fleet Management Solution in Brazil

(Marketwired) — 01/12/15 — CalAmp (NASDAQ:CAMP), a leading provider of wireless products, services and solutions, today announced commencement of volume shipments to Sascar, Brazil’s largest fleet management and freight security company. Under the partnership, CalAmp is supplying Sascar with a broad set of innovative telematics products, including the LMU-800 high-value tracking device, the LMU-4200 communications gateway and the MDT-7 Android-based Mobile Data Terminal, all of which are tightly integrated into Sascar’s application for use in tru… Read more

Shares of Calamp closed last Friday at $17.44. CAMP has a 1-year high of $34.85 and a 1-year low of $14.74. The stock’s 50-day moving average is $18.67 and it’s 200-day moving average is $18.50.

On the ratings front, Calamp has been the subject of a number of recent research reports. In a report published on December 24, analyst Michael Walkley from Canaccord Genuity reiterated a Buy rating on CAMP, with a price target of $26, which represents a potential upside of 49.1% from where the stock is currently trading. Separately, on the same day, Northland Securities’ Michael Latimore reiterated a Buy rating on Calamp shares and has a price target of $28.

In total, 4 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 $17.44 which is 47.2% above where the stock closed last Friday.

CalAmp Corp provides wireless communications solutions applications to customers. Its business activities are organized into its Wireless DataCom and Satellite business segments.

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