I.D. Systems (IDSY) Rating Reiterated by LADENBURG THALM/SH SH
LADENBURG THALM/SH SH reissued their buy rating on shares of I.D. Systems (NASDAQ:IDSY) in a report published on Wednesday. LADENBURG THALM/SH SH currently has a $10.00 price target on the communications equipment provider’s stock.
“We spent time with IDSY management last week, and the company continues to reiterate the commentary from the early August earnings call regarding Avis (CAR, $31.81, Not Rated). As a reminder, IDSY is in the final stages of deploying the initial 50,000 unit order for the Unified Telematics Platform (UTP) hardware on Avis rental vehicles. Though there was a July 19th deadline for Avis to re-up for another 50,000 units if it wanted to maintain exclusivity, the company continues to be in negotiations. The deployment of the first units has gone extremely well with quick installations and high utilization rates in the field.”,” the firm’s analyst commented.
Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of I.D. Systems from a hold rating to a sell rating in a research report on Wednesday, August 15th. National Securities started 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 for the company. Finally, ValuEngine downgraded shares of I.D. Systems from a hold rating to a sell rating in a research report on Thursday, July 19th. Two investment analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. I.D. Systems currently has a consensus rating of Hold and a consensus target price of $9.32.
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 the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. The company had revenue of $14.81 million during the quarter, compared to the consensus estimate of $14.50 million. I.D. Systems had a negative net margin of 7.07% and a negative return on equity of 9.52%. analysts forecast that I.D. Systems will post -0.15 earnings per share for the current fiscal year.
In related news, major shareholder Cannell Capital Llc bought 9,315 shares of the business’s stock in a transaction on Friday, July 20th. The stock was acquired at an average price of $6.01 per share, with a total value of $55,983.15. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders acquired 55,730 shares of company stock valued at $335,651. 8.60% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of IDSY. Cannell Peter B & Co. Inc. bought a new stake in I.D. Systems in the 2nd quarter worth approximately $186,000. Fairpointe Capital LLC grew its position in I.D. Systems by 68.8% in the 2nd 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. Punch & Associates Investment Management Inc. grew its position in I.D. Systems by 6.7% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 366,546 shares of the communications equipment provider’s stock worth $2,280,000 after purchasing an additional 23,000 shares during the period. Ardsley Advisory Partners grew its position in I.D. Systems by 13.2% in the 2nd 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, Archon Capital Management LLC grew its position in I.D. Systems by 22.4% in the 1st quarter. Archon Capital Management LLC now owns 643,255 shares of the communications equipment provider’s stock worth $4,001,000 after purchasing an additional 117,578 shares during the period. 46.49% of the stock is owned by institutional investors and hedge funds.
I.D. Systems Company Profile
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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