IDT (NYSE:IDT) Raised to “Strong-Buy” at StockNews.com

IDT (NYSE:IDT) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday.

IDT Stock Performance

Shares of NYSE:IDT opened at $50.53 on Tuesday. The firm has a market capitalization of $1.28 billion, a PE ratio of 17.31 and a beta of 0.84. IDT has a 52-week low of $33.84 and a 52-week high of $58.77. The firm has a fifty day moving average of $48.10 and a 200 day moving average of $46.55.

IDT (NYSE:IDT) last issued its quarterly earnings results on Thursday, March 6th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter. The firm had revenue of $303.35 million during the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%.

Insiders Place Their Bets

In related news, CTO David Wartell sold 17,116 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $47.11, for a total transaction of $806,334.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 25.32% of the company’s stock.

Institutional Trading of IDT

Several institutional investors have recently added to or reduced their stakes in the business. Emmett Investment Management LP purchased a new position in shares of IDT in the fourth quarter worth about $5,257,000. Deutsche Bank AG grew its position in IDT by 32.4% during the 4th quarter. Deutsche Bank AG now owns 330,616 shares of the utilities provider’s stock worth $15,711,000 after acquiring an additional 80,817 shares during the last quarter. JPMorgan Chase & Co. increased its stake in IDT by 101.5% in the 4th quarter. JPMorgan Chase & Co. now owns 112,614 shares of the utilities provider’s stock worth $5,351,000 after purchasing an additional 56,738 shares during the period. Cerity Partners LLC lifted its position in IDT by 121.7% in the third quarter. Cerity Partners LLC now owns 95,700 shares of the utilities provider’s stock valued at $3,653,000 after purchasing an additional 52,532 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of IDT by 76.3% during the fourth quarter. Bank of New York Mellon Corp now owns 111,536 shares of the utilities provider’s stock valued at $5,300,000 after purchasing an additional 48,288 shares during the period. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

IDT Company Profile

IDT Corporation provides communications and payment services in the United States, the United Kingdom, and internationally. It operates through Fintech, National Retail Solutions, net2phone, and Traditional Communications segments. The company operates point of sale, a terminal-based platform which provides independent retailers store management software, electronic payment processing, and other ancillary merchant services; and provides marketers with digital out-of-home advertising and transaction data.