IDT (NYSE:IDT) Downgraded to "Buy" Rating by Wall Street Zen

IDT (NYSE:IDT - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Saturday.

IDT Stock Up 1.8%

NYSE IDT opened at $65.90 on Friday. The stock's 50-day simple moving average is $55.78 and its two-hundred day simple moving average is $51.27. IDT has a twelve month low of $33.84 and a twelve month high of $69.67. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 22.57 and a beta of 0.72.

IDT (NYSE:IDT - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The utilities provider reported $0.87 earnings per share for the quarter. The business had revenue of $301.98 million for the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%.

Insider Transactions at IDT

In related news, CTO David Wartell sold 10,735 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $48.99, for a total transaction of $525,907.65. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 25.32% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IDT. Allspring Global Investments Holdings LLC boosted its position in IDT by 37.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 28,014 shares of the utilities provider's stock valued at $1,331,000 after acquiring an additional 7,620 shares in the last quarter. Principal Financial Group Inc. boosted its position in IDT by 8.5% during the 4th quarter. Principal Financial Group Inc. now owns 6,097 shares of the utilities provider's stock valued at $290,000 after acquiring an additional 477 shares in the last quarter. New York State Common Retirement Fund boosted its position in IDT by 26.0% during the 4th quarter. New York State Common Retirement Fund now owns 5,329 shares of the utilities provider's stock valued at $253,000 after acquiring an additional 1,100 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in IDT by 32.0% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 10,352 shares of the utilities provider's stock valued at $492,000 after acquiring an additional 2,512 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in 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 valued at $5,300,000 after acquiring 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.