StockNews.com Downgrades IDT (NYSE:IDT) to Buy

IDT (NYSE:IDT) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

IDT Stock Performance

Shares of IDT stock traded up $0.61 during trading hours on Tuesday, reaching $47.68. The company had a trading volume of 65,631 shares, compared to its average volume of 86,037. IDT has a 12-month low of $32.08 and a 12-month high of $58.77. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 16.33 and a beta of 0.78. The stock has a fifty day moving average of $49.30 and a 200-day moving average of $41.64.

IDT (NYSE:IDT) last issued its earnings results on Tuesday, October 8th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter. The business had revenue of $308.83 million during the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%.

Insider Activity

In other news, CFO Marcelo Fischer sold 600 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $48.57, for a total value of $29,142.00. Following the sale, the chief financial officer now directly owns 37,573 shares of the company’s stock, valued at approximately $1,824,920.61. The trade was a 1.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nadine Shea sold 1,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $53.74, for a total transaction of $53,740.00. Following the transaction, the executive vice president now directly owns 4,775 shares of the company’s stock, valued at $256,608.50. The trade was a 17.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,582 shares of company stock valued at $1,686,308. 25.32% of the stock is currently owned by company insiders.

Institutional Trading of IDT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IDT. Bank of New York Mellon Corp grew its position in IDT by 7.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 78,361 shares of the utilities provider’s stock valued at $2,815,000 after acquiring an additional 5,454 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of IDT by 9.3% in the second quarter. Principal Financial Group Inc. now owns 7,332 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 625 shares during the period. Americana Partners LLC acquired a new position in shares of IDT in the second quarter valued at approximately $898,000. Ritholtz Wealth Management purchased a new stake in IDT during the 2nd quarter worth approximately $537,000. Finally, Rhumbline Advisers lifted its holdings in IDT by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 26,833 shares of the utilities provider’s stock worth $964,000 after buying an additional 891 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

About IDT

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.