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 to investors on Tuesday.

IDT Stock Up 0.4 %

IDT opened at $50.53 on Tuesday. The firm has a 50-day moving average price of $48.10 and a 200-day moving average price of $46.55. IDT has a twelve month low of $33.84 and a twelve month high of $58.77. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 17.31 and a beta of 0.84.

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

Insiders Place Their Bets

In other news, CTO David Wartell sold 17,116 shares of the 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 filing with the SEC, which can be accessed through this hyperlink. 25.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IDT

Several hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. boosted its holdings in IDT by 272.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 13,396 shares of the utilities provider’s stock valued at $511,000 after purchasing an additional 9,796 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of IDT in the fourth quarter worth $1,018,000. JPMorgan Chase & Co. boosted its stake in IDT by 10.7% during the third quarter. JPMorgan Chase & Co. now owns 55,876 shares of the utilities provider’s stock valued at $2,133,000 after buying an additional 5,417 shares during the period. Barclays PLC grew its position in IDT by 240.3% during the third quarter. Barclays PLC now owns 27,066 shares of the utilities provider’s stock worth $1,034,000 after buying an additional 19,112 shares in the last quarter. Finally, Cerity Partners LLC grew its position in IDT by 121.7% during the third quarter. Cerity Partners LLC now owns 95,700 shares of the utilities provider’s stock worth $3,653,000 after buying an additional 52,532 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.