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

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

IDT Stock Down 1.6 %

Shares of NYSE IDT traded down $0.81 during trading hours on Monday, hitting $50.08. 173,499 shares of the stock were exchanged, compared to its average volume of 84,119. The company has a market cap of $1.26 billion, a PE ratio of 17.15 and a beta of 0.84. The firm has a fifty day moving average price of $47.84 and a 200-day moving average price of $46.09. IDT has a 12 month low of $33.84 and a 12 month high of $58.77.

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

Insider Activity

In related news, CTO David Wartell sold 17,116 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $47.11, for a total value of $806,334.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 25.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Emmett Investment Management LP acquired a new stake in IDT in the fourth quarter valued at approximately $5,257,000. Deutsche Bank AG grew its position in IDT by 32.4% in the 4th quarter. Deutsche Bank AG now owns 330,616 shares of the utilities provider’s stock valued at $15,711,000 after buying an additional 80,817 shares during the last quarter. JPMorgan Chase & Co. grew its position in IDT by 101.5% in the 4th quarter. JPMorgan Chase & Co. now owns 112,614 shares of the utilities provider’s stock valued at $5,351,000 after buying an additional 56,738 shares during the last quarter. Cerity Partners LLC grew its position in IDT by 121.7% in the 3rd quarter. Cerity Partners LLC now owns 95,700 shares of the utilities provider’s stock valued at $3,653,000 after buying an additional 52,532 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of IDT by 76.3% during the 4th quarter. Bank of New York Mellon Corp now owns 111,536 shares of the utilities provider’s stock worth $5,300,000 after purchasing an additional 48,288 shares in 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.