I.D. Systems, Inc. (NASDAQ:IDSY) has been given a consensus recommendation of “Buy” by the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $9.32.
A number of research firms recently weighed in on IDSY. National Securities began coverage on shares of I.D. Systems in a research report on Monday, August 27th. They set a “buy” rating and a $8.60 price target on the stock. ValuEngine lowered shares of I.D. Systems from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. LADENBURG THALM/SH SH restated a “buy” rating and set a $10.00 price target on shares of I.D. Systems in a research report on Wednesday, September 12th. Finally, Zacks Investment Research upgraded shares of I.D. Systems from a “sell” rating to a “hold” rating in a research report on Wednesday.
In other news, major shareholder Cannell Capital Llc bought 9,315 shares of I.D. Systems stock in a transaction on Friday, July 20th. The shares were bought at an average cost of $6.01 per share, with a total value of $55,983.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.60% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the business. Cannell Peter B & Co. Inc. purchased a new position in I.D. Systems during the second quarter worth about $186,000. Fairpointe Capital LLC raised its stake in I.D. Systems by 68.8% during the second quarter. Fairpointe Capital LLC now owns 124,488 shares of the communications equipment provider’s stock worth $771,000 after purchasing an additional 50,748 shares during the period. Ardsley Advisory Partners raised its stake in I.D. Systems by 13.2% during the second quarter. Ardsley Advisory Partners now owns 438,610 shares of the communications equipment provider’s stock worth $2,715,000 after purchasing an additional 51,200 shares during the period. Finally, Cannell Capital LLC raised its stake in I.D. Systems by 22.2% during the second quarter. Cannell Capital LLC now owns 2,081,575 shares of the communications equipment provider’s stock worth $12,885,000 after purchasing an additional 377,830 shares during the period. 46.49% of the stock is currently owned by institutional investors.
IDSY opened at $6.34 on Friday. I.D. Systems has a twelve month low of $5.37 and a twelve month high of $8.05.
I.D. Systems (NASDAQ:IDSY) last posted its quarterly earnings results on Wednesday, August 8th. The communications equipment provider reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $14.81 million for the quarter, compared to analyst estimates of $14.50 million. I.D. Systems had a negative net margin of 7.07% and a negative return on equity of 9.52%. As a group, equities research analysts forecast that I.D. Systems will post -0.15 earnings per share for the current year.
About I.D. Systems
I.D. Systems, Inc develops, markets, and sells wireless machine-to-machine solutions primarily in North America. The company provides integrated wireless solutions that utilize radio frequency identification, Wi-Fi, satellite or cellular communications, sensor technologies, and software to control, monitor, track, and analyze industrial and rental vehicles, as well as transportation assets.
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