AT&T (NYSE:T) Upgraded by BNP Paribas to Outperform Rating

AT&T (NYSE:T) was upgraded by research analysts at BNP Paribas from a “neutral” rating to an “outperform” rating in a report released on Thursday,Briefing.com Automated Import reports. The brokerage currently has a $28.50 target price on the technology company’s stock. BNP Paribas’ price target points to a potential upside of 12.34% from the stock’s previous close.

A number of other research firms also recently issued reports on T. Royal Bank of Canada raised their price target on AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Thursday, January 16th. Evercore ISI boosted their price objective on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. The Goldman Sachs Group raised their target price on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Wells Fargo & Company reduced their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.33.

AT&T Price Performance

Shares of T opened at $25.37 on Thursday. The firm has a 50 day moving average of $23.11 and a 200 day moving average of $21.94. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T has a twelve month low of $15.94 and a twelve month high of $25.38. The company has a market capitalization of $182.04 billion, a P/E ratio of 17.03, a price-to-earnings-growth ratio of 2.79 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, equities research analysts anticipate that AT&T will post 2.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AT&T

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new stake in shares of AT&T during the third quarter worth $25,000. Marshall Investment Management LLC acquired a new position in shares of AT&T in the fourth quarter valued at about $28,000. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares during the last quarter. YANKCOM Partnership acquired a new stake in shares of AT&T during the fourth quarter worth about $30,000. Finally, Tradewinds Capital Management LLC boosted its position in AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after buying an additional 430 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.