AT&T (NYSE:T) Stock Rating Upgraded by Redburn Atlantic

AT&T (NYSE:T) was upgraded by equities researchers at Redburn Atlantic to a “strong sell” rating in a note issued to investors on Monday, Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. UBS Group restated a “buy” rating and issued a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Evercore ISI increased their price target on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. The Goldman Sachs Group began coverage on shares of AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Barclays lifted their price target on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.31.

AT&T Stock Performance

Shares of T stock opened at $21.78 on Monday. AT&T has a 52-week low of $14.12 and a 52-week high of $22.34. The stock’s 50-day moving average price is $19.72 and its 200 day moving average price is $18.26. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $156.17 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same period last year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. As a group, equities research analysts forecast that AT&T will post 2.2 EPS for the current year.

Hedge Funds Weigh In On AT&T

Large investors have recently bought and sold shares of the stock. Riggs Asset Managment Co. Inc. raised its holdings in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares during the period. Pineridge Advisors LLC acquired a new stake in AT&T in the fourth quarter valued at approximately $25,000. Frank Rimerman Advisors LLC purchased a new stake in shares of AT&T during the fourth quarter valued at approximately $25,000. American Capital Advisory LLC lifted its position in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares in the last quarter. Finally, Altshuler Shaham Ltd purchased a new position in shares of AT&T in the second quarter valued at $30,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

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.