IDT (NYSE:IDT) Cut to “Buy” at Wall Street Zen

IDT (NYSE:IDT) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of IDT in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

IDT Stock Performance

NYSE:IDT opened at $51.56 on Friday. The company’s 50-day simple moving average is $49.92 and its 200-day simple moving average is $53.05. IDT has a fifty-two week low of $45.35 and a fifty-two week high of $71.12. The stock has a market capitalization of $1.29 billion, a P/E ratio of 16.01 and a beta of 0.76.

IDT (NYSE:IDT) last posted its quarterly earnings data on Thursday, December 4th. The utilities provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.88 by $0.06. IDT had a net margin of 6.53% and a return on equity of 27.12%. The firm had revenue of $322.75 million during the quarter, compared to analyst estimates of $308.00 million.

Insider Buying and Selling at IDT

In other IDT news, CFO Marcelo Fischer sold 7,009 shares of IDT stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $52.03, for a total transaction of $364,678.27. Following the completion of the transaction, the chief financial officer owned 56,863 shares in the company, valued at approximately $2,958,581.89. This trade represents a 10.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 8,570 shares of company stock worth $446,073. Company insiders own 25.41% of the company’s stock.

Institutional Trading of IDT

A number of hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new stake in IDT in the 3rd quarter worth approximately $96,000. Gabelli Funds LLC purchased a new position in shares of IDT during the 2nd quarter valued at approximately $239,000. State of Tennessee Department of Treasury acquired a new position in shares of IDT in the 4th quarter valued at $268,000. Ameriprise Financial Inc. acquired a new position in shares of IDT in the 3rd quarter valued at $399,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in IDT by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,156 shares of the utilities provider’s stock worth $470,000 after buying an additional 381 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

About IDT

IDT Corporation, founded in 1990 and headquartered in Newark, New Jersey, is a diversified global provider of telecommunications and payment services. The company operates through its primary communications arm, IDT Telecom, and a digital solutions segment that encompasses cross-border money transfers and related fintech offerings. Since its inception, IDT has built an international network infrastructure to support voice and data transmission across more than 200 countries and territories.

Through IDT Telecom, the company offers a suite of voice communication products, including prepaid phone cards, VoIP services, SIP trunking and operator-assisted calling.