Brokerages Set $8.05 Price Target for I.D. Systems, Inc. (IDSY)

I.D. Systems, Inc. (NASDAQ:IDSY) has earned a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.

Analysts have set a 1-year consensus price objective of $8.05 for the company and are anticipating that the company will post $0.03 EPS for the current quarter, according to Zacks. Zacks has also assigned I.D. Systems an industry rank of 223 out of 265 based on the ratings given to related companies.

IDSY has been the topic of several research reports. Zacks Investment Research cut I.D. Systems from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. B. Riley reaffirmed a “buy” rating and set a $8.00 price objective on shares of I.D. Systems in a research report on Thursday, August 10th.

Shares of I.D. Systems (NASDAQ IDSY) traded up $0.04 during trading hours on Friday, hitting $6.94. The stock had a trading volume of 9,987 shares, compared to its average volume of 16,954. I.D. Systems has a 1 year low of $4.70 and a 1 year high of $7.75.

Several institutional investors have recently made changes to their positions in IDSY. Northern Trust Corp boosted its holdings in shares of I.D. Systems by 2.6% in the 2nd quarter. Northern Trust Corp now owns 30,613 shares of the communications equipment provider’s stock worth $188,000 after purchasing an additional 784 shares during the period. Smith Moore & CO. purchased a new position in shares of I.D. Systems in the 3rd quarter worth approximately $263,000. Punch & Associates Investment Management Inc. purchased a new position in shares of I.D. Systems in the 2nd quarter worth approximately $837,000. Archon Capital Management LLC purchased a new position in shares of I.D. Systems in the 3rd quarter worth approximately $1,386,000. Finally, Ardsley Advisory Partners boosted its holdings in shares of I.D. Systems by 86.9% in the 2nd quarter. Ardsley Advisory Partners now owns 264,021 shares of the communications equipment provider’s stock worth $1,636,000 after purchasing an additional 122,779 shares during the period. Hedge funds and other institutional investors own 46.68% of the company’s stock.

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I.D. Systems Company Profile

I.D. Systems, Inc (I.D. Systems) develops, markets and sells wireless machine-to-machine solutions for managing and securing enterprise assets, which include industrial vehicles, such as forklifts and airport ground support equipment, rental vehicles, and transportation assets, such as dry van trailers, refrigerated trailers, railcars and containers.

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