IDT (NYSE:IDT) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded IDT (NYSE:IDT) from a "buy" to a "strong-buy", though Weiss Ratings and consensus analyst coverage still rate the stock as a "Hold."
• IDT beat expectations for the latest quarter with EPS of $1.00 (vs. $0.90 est.) and revenue of $320.5M (vs. $302M est.), showing stronger-than-expected operating results.
• Significant insider sales occurred on April 14—EVP Menachem Ash sold 20,000 shares and CFO Marcelo Fischer sold 5,000 shares—though insiders collectively retain 25.41% ownership.

IDT (NYSE:IDT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reiterated a "hold (c+)" rating on shares of IDT in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold".

IDT Stock Performance

IDT stock opened at $51.75 on Friday. The stock has a market cap of $1.30 billion, a PE ratio of 15.87 and a beta of 0.70. IDT has a one year low of $45.72 and a one year high of $71.12. The stock has a fifty day moving average of $49.78 and a 200 day moving average of $49.90.

IDT (NYSE:IDT - Get Free Report) last posted its quarterly earnings data on Tuesday, March 10th. The utilities provider reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.10. The company had revenue of $320.52 million during the quarter, compared to analysts' expectations of $302.00 million. IDT had a return on equity of 25.97% and a net margin of 6.49%.

Insider Activity

In other IDT news, EVP Menachem Ash sold 20,000 shares of the business's stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $51.00, for a total transaction of $1,020,000.00. Following the completion of the sale, the executive vice president owned 32,243 shares of the company's stock, valued at approximately $1,644,393. The trade was a 38.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Marcelo Fischer sold 5,000 shares of the business's stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $50.50, for a total value of $252,500.00. Following the sale, the chief financial officer directly owned 56,147 shares of the company's stock, valued at $2,835,423.50. This represents a 8.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 25.41% of the company's stock.

Institutional Trading of IDT

Several hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in shares of IDT in the fourth quarter worth about $748,000. Strs Ohio boosted its stake in shares of IDT by 5.9% in the third quarter. Strs Ohio now owns 10,700 shares of the utilities provider's stock worth $560,000 after acquiring an additional 600 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of IDT by 447.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 10,080 shares of the utilities provider's stock worth $516,000 after acquiring an additional 8,240 shares during the period. CSM Advisors LLC boosted its stake in shares of IDT by 107.4% in the fourth quarter. CSM Advisors LLC now owns 103,950 shares of the utilities provider's stock worth $5,321,000 after acquiring an additional 53,835 shares during the period. Finally, Ameriprise Financial Inc. bought a new position in shares of IDT in the third quarter worth about $399,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.