AT&T (NYSE:T) Stock Rating Upgraded by StockNews.com

AT&T (NYSE:T) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

T has been the topic of several other research reports. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Tuesday, March 5th. Tigress Financial upped their price target on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft upped their price target on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Royal Bank of Canada restated a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a report on Thursday, April 11th. Finally, Scotiabank upped their price target on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a report on Thursday. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.81.

AT&T Price Performance

T traded down $0.22 during trading hours on Thursday, hitting $16.59. The company’s stock had a trading volume of 46,667,665 shares, compared to its average volume of 39,434,195. The business’s 50-day moving average price is $16.97 and its 200-day moving average price is $16.54. AT&T has a 12 month low of $13.43 and a 12 month high of $18.16. The stock has a market cap of $118.63 billion, a price-to-earnings ratio of 8.46, a P/E/G ratio of 2.49 and a beta of 0.57. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter in the previous year, the business posted $0.60 earnings per share. AT&T’s quarterly revenue was down .4% on a year-over-year basis. Sell-side analysts expect that AT&T will post 2.21 earnings per share for the current fiscal year.

Institutional Trading of AT&T

A number of institutional investors have recently modified their holdings of the company. Pineridge Advisors LLC purchased a new position in shares of AT&T in the 4th quarter valued at approximately $25,000. Frank Rimerman Advisors LLC purchased a new position in shares of AT&T in the 4th quarter valued at approximately $25,000. First Pacific Financial raised its position in shares of AT&T by 166.7% in the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,000 shares during the last quarter. Carmel Capital Partners LLC raised its position in shares of AT&T by 16,250.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,625 shares during the last quarter. Finally, Lipe & Dalton purchased a new position in shares of AT&T in the 3rd quarter valued at approximately $30,000. 57.10% of the stock is currently owned by institutional investors.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.