CalAmp Corp. (CAMP) PT Lowered to $18 at JPMorgan Following 3Q

December 21, 2018 7:43 AM EST
Get Alerts CAMP Hot Sheet
Price: $12.29 +0.49%

Rating Summary:
    10 Buy, 5 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 19
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JPMorgan analyst Paul Coster lowered the price target on CalAmp Corp. (NASDAQ: CAMP) to $18.00 (from $24.00) while maintaining a Neutral rating following the company's 3Q earnings report. CAMP posted F3Q19 PF EPS of $0.25, PF EBITDA of $11.4m, on revenue of $88.5mm. Revenue was ~$8mm below the mid-point of the original guidance range owing to disruption caused as the company transitions certain manufacturing capacity away from China, as well as regional macro factors internationally.

CAMP expects F4Q PF EPS of $0.23$0.29, PF EBITDA of $10-14mm and revenue of $86-92mm, below expectations (JPMe prior: $0.29/$14.4mm/$96.1mm, Street: $0.30/$13.2mm/$95.6mm). Management stated that the company is taking a cautious approach to guidance given the currently low visibility.

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