Zacks Investment Research downgraded shares of I.D. Systems (NASDAQ:IDSY) from a hold rating to a sell rating in a report published on Thursday.
According to Zacks, “I.D. Systems Inc is a leading provider of wireless solutions for corporate asset management. I.D. Systems’ customers include 3M Company, American Axle, Archer Daniels Midland, Daimler Chrysler, Deere & Co., Ford Motor Company, General Dynamics, Hallmark Cards, Northrop Grumman, Target Corporation, Walgreen Co., the U.S. Navy, the U.S. Postal Service, and the U.S. Transportation Security Administration, among others. The company’s systems enable management to control and track the location and status of their assets in real time. “
A number of other equities research analysts also recently issued reports on the stock. TheStreet upgraded shares of I.D. Systems from a d rating to a c- rating in a research note on Monday, January 22nd. Lake Street Capital reiterated a buy rating and set a $9.50 price objective (up from $8.50) on shares of I.D. Systems in a research note on Friday, March 2nd. Finally, Roth Capital upgraded shares of I.D. Systems from a neutral rating to a buy rating and set a $10.00 price objective on the stock in a research note on Friday, March 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. I.D. Systems presently has an average rating of Hold and an average price target of $8.81.
I.D. Systems (NASDAQ:IDSY) last announced its quarterly earnings data on Thursday, March 1st. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The firm had revenue of $11.17 million for the quarter, compared to analyst estimates of $11.42 million. I.D. Systems had a negative return on equity of 18.97% and a negative net margin of 9.45%. equities research analysts expect that I.D. Systems will post -0.08 earnings per share for the current fiscal year.
In other I.D. Systems news, major shareholder Emancipation Management Llc sold 25,000 shares of the stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $6.90, for a total transaction of $172,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 12.17% of the company’s stock.
Several hedge funds have recently bought and sold shares of IDSY. Northern Trust Corp lifted its holdings in shares of I.D. Systems by 2.6% in the second quarter. Northern Trust Corp now owns 30,613 shares of the communications equipment provider’s stock worth $188,000 after acquiring an additional 784 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of I.D. Systems by 2.0% in the second quarter. Vanguard Group Inc. now owns 369,627 shares of the communications equipment provider’s stock worth $2,266,000 after acquiring an additional 7,200 shares during the last quarter. Archon Capital Management LLC bought a new position in shares of I.D. Systems in the third quarter worth about $1,386,000. Wells Fargo & Company MN bought a new position in shares of I.D. Systems in the fourth quarter worth about $110,000. Finally, Fairpointe Capital LLC bought a new position in shares of I.D. Systems in the fourth quarter worth about $512,000. 42.86% of the stock is owned by hedge funds and other institutional investors.
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About I.D. Systems
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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