I.D. Systems, Inc. (IDSY) Receives $9.32 Average PT from Analysts

I.D. Systems, Inc. (NASDAQ:IDSY) has received an average recommendation of “Buy” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $9.32.

A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of I.D. Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, October 10th. LADENBURG THALM/SH SH restated a “buy” rating and issued a $10.00 price objective on shares of I.D. Systems in a research note on Wednesday, September 12th. National Securities assumed coverage on shares of I.D. Systems in a research note on Monday, August 27th. They issued a “buy” rating and a $8.60 price objective on the stock. Finally, ValuEngine lowered shares of I.D. Systems from a “hold” rating to a “sell” rating in a research note on Thursday, July 19th.

In other news, major shareholder Neil S. Subin sold 47,679 shares of the business’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $6.25, for a total transaction of $297,993.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 49,145 shares of company stock worth $307,306. 8.60% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of IDSY. Cannell Capital LLC increased its stake in shares of 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 acquiring an additional 377,830 shares during the period. 22NW LP acquired a new position in shares of I.D. Systems during the third quarter worth about $525,000. Ardsley Advisory Partners increased its stake in shares of 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 acquiring an additional 51,200 shares during the period. Fairpointe Capital LLC increased its stake in shares of 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 acquiring an additional 50,748 shares during the period. Finally, Cannell Peter B & Co. Inc. acquired a new position in shares of I.D. Systems during the second quarter worth about $186,000. Institutional investors and hedge funds own 46.43% of the company’s stock.

Shares of IDSY opened at $5.88 on Wednesday. I.D. Systems has a 1-year low of $5.37 and a 1-year high of $8.05.

I.D. Systems (NASDAQ:IDSY) last announced its quarterly earnings results on Wednesday, August 8th. The communications equipment provider reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $14.81 million during the quarter, compared to analysts’ expectations of $14.50 million. I.D. Systems had a negative net margin of 7.07% and a negative return on equity of 9.52%. Sell-side analysts forecast that I.D. Systems will post -0.15 EPS for the current fiscal 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.

Further Reading: Outstanding Shares and The Effect on Share Price

Analyst Recommendations for I.D. Systems (NASDAQ:IDSY)

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