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

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

IDT Trading Down 0.9 %

Shares of NYSE IDT opened at $47.07 on Wednesday. The stock’s 50-day moving average is $49.42 and its 200 day moving average is $42.18. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 16.12 and a beta of 0.78. IDT has a 1-year low of $32.08 and a 1-year high of $58.77.

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

Insider Transactions at IDT

In related news, EVP Joyce J. Mason sold 2,290 shares of IDT stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $47.18, for a total value of $108,042.20. Following the transaction, the executive vice president now directly owns 37,113 shares of the company’s stock, valued at $1,750,991.34. The trade was a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Marcelo Fischer sold 600 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $48.57, for a total transaction of $29,142.00. Following the sale, the chief financial officer now owns 37,573 shares of the company’s stock, valued at $1,824,920.61. This represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,698 shares of company stock worth $2,492,643. Company insiders own 25.32% of the company’s stock.

Institutional Trading of IDT

Several large investors have recently modified their holdings of IDT. Cerity Partners LLC raised its position in IDT by 121.7% during the 3rd 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. Renaissance Technologies LLC raised its holdings in shares of IDT by 2.7% during the second quarter. Renaissance Technologies LLC now owns 1,106,606 shares of the utilities provider’s stock valued at $39,749,000 after acquiring an additional 29,100 shares in the last quarter. Marshall Wace LLP purchased a new stake in IDT in the second quarter worth $976,000. Geode Capital Management LLC boosted its holdings in IDT by 6.5% in the third quarter. Geode Capital Management LLC now owns 421,096 shares of the utilities provider’s stock valued at $16,077,000 after acquiring an additional 25,541 shares in the last quarter. Finally, Barclays PLC increased its position in IDT by 240.3% during the 3rd quarter. Barclays PLC now owns 27,066 shares of the utilities provider’s stock valued at $1,034,000 after purchasing an additional 19,112 shares during the period. 59.34% of the stock is owned by 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.