Zacks Research Upgrades IDT (NYSE:IDT) to Hold

IDT (NYSE:IDT) was upgraded by stock analysts at Zacks Research to a “hold” rating in a note issued to investors on Monday, Zacks reports.

Several other equities analysts have also commented on IDT. Freedom Broker increased their target price on shares of IDT from $75.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, September 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of IDT in a research note on Tuesday, September 22nd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $85.00.

IDT Price Performance

Shares of NYSE IDT opened at $80.48 on Monday. IDT has a one year low of $45.72 and a one year high of $82.31. The firm’s 50 day simple moving average is $69.24 and its two-hundred day simple moving average is $59.65. The stock has a market capitalization of $2.00 billion, a P/E ratio of 23.19 and a beta of 0.60.

IDT (NYSE:IDT) last posted its quarterly earnings results on Monday, September 28th. The utilities provider reported $0.94 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.04). The business had revenue of $338.98 million for the quarter, compared to analysts’ expectations of $319.00 million. IDT had a return on equity of 24.22% and a net margin of 6.67%. As a group, equities analysts expect that IDT will post 3.86 earnings per share for the current fiscal year.

Institutional Trading of IDT

A number of institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC purchased a new position in shares of IDT in the second quarter worth $646,000. Integrated Wealth Concepts LLC bought a new stake in IDT in the 2nd quarter worth $25,000. Allworth Financial LP grew its holdings in IDT by 531.1% in the 2nd quarter. Allworth Financial LP now owns 568 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 478 shares during the last quarter. Nykredit A S purchased a new position in shares of IDT in the second quarter valued at about $32,000. Finally, Corient Private Wealth LP bought a new position in shares of IDT during the second quarter valued at about $252,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

IDT Company Profile

IDT Corporation (NYSE: IDT) is a telecommunications and fintech company founded in 1990 by Howard Jonas. The company began as an international long-distance provider and has expanded into consumer communications, payment services and technology solutions for businesses and independent retailers.

Through its BOSS Revolution brand, IDT offers international calling, prepaid wireless services, mobile airtime and data top-ups, and international money-transfer services. Its communications operations also provide wholesale voice services and related connectivity solutions to carriers and other communications providers in markets worldwide.

IDT’s National Retail Solutions business provides independent retailers with point-of-sale technology, payment processing, business services and related tools.