IDT (NYSE:IDT) Sets New 52-Week High - Still a Buy?

IDT Co. (NYSE:IDT - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $62.68 and last traded at $62.27, with a volume of 90194 shares traded. The stock had previously closed at $61.89.

Analysts Set New Price Targets

Separately, Wall Street Zen raised IDT from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, March 18th.

IDT Stock Performance

The stock has a 50-day simple moving average of $53.25 and a two-hundred day simple moving average of $50.38. The firm has a market cap of $1.55 billion, a PE ratio of 21.09 and a beta of 0.69.

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

IDT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 17th were given a $0.06 dividend. This is a positive change from IDT's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.24 dividend on an annualized basis and a yield of 0.39%. IDT's payout ratio is 7.62%.

Insiders Place Their Bets

In other news, CTO David Wartell sold 10,735 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $48.99, for a total transaction of $525,907.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 25.32% of the stock is owned by insiders.

Institutional Investors Weigh In On IDT

Hedge funds and other institutional investors have recently made changes to their positions in the business. Proficio Capital Partners LLC purchased a new stake in shares of IDT during the 4th quarter valued at about $1,018,000. New York State Common Retirement Fund increased its position in shares of 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 purchasing an additional 1,100 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of IDT during the 4th quarter valued at about $286,000. Raymond James Financial Inc. purchased a new stake in shares of IDT during the 4th quarter valued at about $201,000. Finally, Vanguard Group Inc. increased its position in shares of IDT by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 1,265,815 shares of the utilities provider's stock valued at $60,152,000 after purchasing an additional 4,426 shares during 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.