I.D. Systems, Inc. (IDSY) Stock Rating Upgraded by Zacks Investment Research
I.D. Systems, Inc. (NASDAQ:IDSY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The brokerage currently has a $7.25 price objective on the communications equipment provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.71% from the stock’s current price.
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. “
Other equities analysts have also recently issued research reports about the company. B. Riley reiterated a “buy” rating and set a $8.00 target price on shares of I.D. Systems in a research report on Thursday, August 10th. Roth Capital cut I.D. Systems from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $7.60 to $8.75 in a research report on Friday, May 5th. Finally, ValuEngine upgraded I.D. Systems from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $7.63.
I.D. Systems (NASDAQ IDSY) opened at 6.49 on Friday. The stock’s 50 day moving average price is $6.68 and its 200-day moving average price is $6.39. The stock’s market capitalization is $88.19 million. I.D. Systems has a 52-week low of $4.63 and a 52-week high of $7.34.
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In other news, major shareholder Lloyd I. Miller III purchased 260,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were acquired at an average price of $5.75 per share, with a total value of $1,495,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 12.17% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in IDSY. HighTower Advisors LLC raised its stake in shares of I.D. Systems by 1.5% in the first quarter. HighTower Advisors LLC now owns 19,900 shares of the communications equipment provider’s stock valued at $126,000 after buying an additional 300 shares during the period. Northern Trust Corp raised its stake 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 valued at $188,000 after buying an additional 784 shares during the period. Berson & Corrado Investment Advisors LLC raised its stake in shares of I.D. Systems by 6.8% in the second quarter. Berson & Corrado Investment Advisors LLC now owns 31,460 shares of the communications equipment provider’s stock valued at $193,000 after buying an additional 1,990 shares during the period. American Capital Management Inc. raised its stake in shares of I.D. Systems by 50.1% in the second quarter. American Capital Management Inc. now owns 103,300 shares of the communications equipment provider’s stock valued at $633,000 after buying an additional 34,500 shares during the period. Finally, Punch & Associates Investment Management Inc. purchased a new stake in shares of I.D. Systems during the second quarter valued at approximately $837,000. 44.33% of the stock is currently owned by institutional investors and hedge funds.
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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