IDT (NYSE:IDT) Rating Lowered to “Buy” at StockNews.com

IDT (NYSE:IDT) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Monday.

IDT Trading Down 1.6 %

IDT traded down $0.81 during midday trading on Monday, reaching $50.08. The company’s stock had a trading volume of 173,499 shares, compared to its average volume of 84,119. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 17.15 and a beta of 0.84. IDT has a 1 year low of $33.84 and a 1 year high of $58.77. The stock’s 50-day moving average is $47.84 and its 200-day moving average is $46.09.

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

Insider Activity

In other news, CTO David Wartell sold 17,116 shares of the stock in a transaction that occurred 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 legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 25.32% of the company’s stock.

Institutional Investors Weigh In On IDT

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System bought a new position in IDT in the third quarter worth approximately $54,000. Versor Investments LP bought a new stake in shares of IDT during the 3rd quarter valued at $213,000. Victory Capital Management Inc. increased its holdings in IDT by 7.3% in the 3rd quarter. Victory Capital Management Inc. now owns 34,313 shares of the utilities provider’s stock valued at $1,310,000 after acquiring an additional 2,320 shares during the last quarter. Quest Partners LLC increased its holdings in IDT by 40.7% in the 3rd quarter. Quest Partners LLC now owns 10,554 shares of the utilities provider’s stock valued at $403,000 after acquiring an additional 3,055 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in IDT by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 157,808 shares of the utilities provider’s stock valued at $6,024,000 after acquiring an additional 6,183 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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.