NEW YORK (TheStreet) -- LoJack Corp. (LOJN) stock is up by 19.40% to $6.40 on heavy trading volume on Tuesday after the company announced it would be acquired by CalAmp Corp. (CAMP) in a deal valued at $134 million.
CalAmp, a wireless products provider based in Oxnard, CA, will acquire LoJack for $6.45 per share, the company announced on Monday. Based in Canton, MA, LoJack specializes in vehicle theft recovery system.
"This transaction delivers immediate and significant cash value to our shareholders at a substantial premium and represents a successful conclusion to the board's review of strategic alternatives to enhance shareholder value," CEO Randy Ortiz said in a statement.
CalAmp stock is up 3.73% to $17.54 in mid-morning trading on Tuesday.
So far today, 3.25 million shares of LoJack have traded, versus its 30-day average of about 68,500 shares.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "hold" with a ratings score of C. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we find that the company's return on equity has been disappointing.
You can view the full analysis from the report here: LOJNLOJN data by YCharts