IDT (NYSE:IDT) Given New $85.00 Price Target at Freedom Broker

IDT (NYSE:IDT) had its price target increased by investment analysts at Freedom Broker from $75.00 to $85.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. Freedom Broker’s target price suggests a potential upside of 6.27% from the company’s current price.

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of IDT in a report on Tuesday, September 22nd. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

IDT Stock Performance

Shares of NYSE:IDT traded up $4.42 during trading on Wednesday, reaching $79.98. The stock had a trading volume of 592,472 shares, compared to its average volume of 182,892. IDT has a 52 week low of $45.72 and a 52 week high of $80.63. The firm’s fifty day moving average is $67.74 and its 200 day moving average is $58.54. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 23.05 and a beta of 0.62.

IDT (NYSE:IDT) last issued its quarterly earnings results on Monday, September 28th. The utilities provider reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.04). IDT had a return on equity of 24.90% and a net margin of 6.67%.The business had revenue of $338.98 million for the quarter, compared to analyst estimates of $319.00 million.

Institutional Trading of IDT

Institutional investors have recently made changes to their positions in the company. Kahn Brothers Group Inc. bought a new stake in IDT in the 2nd quarter worth about $20,453,000. Public Employees Retirement System of Ohio purchased a new position in IDT in the second quarter worth $596,000. Tidal Investments LLC purchased a new stake in shares of IDT during the 2nd quarter valued at $646,000. Integrated Wealth Concepts LLC purchased a new position in shares of IDT in the 2nd quarter worth about $25,000. Finally, Allworth Financial LP increased its holdings in IDT by 531.1% during the second quarter. Allworth Financial LP now owns 568 shares of the utilities provider’s stock worth $33,000 after buying an additional 478 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

About IDT

IDT Corporation is a telecommunications and financial technology company that provides communications, payment and business services to consumers, small businesses and retail customers. The company operates through brands and businesses focused on international calling, mobile top-ups, money transfers, cloud communications and retail technology.

Its BOSS Revolution platform offers international calling, prepaid wireless services, mobile recharging and international money transfers, primarily serving immigrant and international communities.