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

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

IDT Stock Performance

NYSE IDT opened at $36.15 on Thursday. The firm has a 50 day simple moving average of $37.76 and a 200-day simple moving average of $36.52. IDT has a one year low of $21.64 and a one year high of $41.58. The firm has a market cap of $916.04 million, a price-to-earnings ratio of 25.82 and a beta of 0.82.

IDT (NYSE:IDT) last posted its quarterly earnings data on Wednesday, June 5th. The utilities provider reported $0.33 EPS for the quarter. IDT had a net margin of 2.97% and a return on equity of 18.56%. The business had revenue of $299.64 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its stake in IDT by 2.3% in the first quarter. BNP Paribas Financial Markets now owns 13,805 shares of the utilities provider’s stock worth $522,000 after acquiring an additional 309 shares during the last quarter. CWM LLC lifted its stake in IDT by 53.2% in the second quarter. CWM LLC now owns 1,797 shares of the utilities provider’s stock worth $65,000 after acquiring an additional 624 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in IDT by 5.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,647 shares of the utilities provider’s stock worth $479,000 after acquiring an additional 635 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in IDT by 58.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,387 shares of the utilities provider’s stock worth $114,000 after acquiring an additional 1,250 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in IDT by 35.5% in the second quarter. Harbor Capital Advisors Inc. now owns 7,648 shares of the utilities provider’s stock worth $275,000 after acquiring an additional 2,002 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.