AT&T (NYSE:T) Upgraded by Argus to Buy Rating

AT&T (NYSE:T) was upgraded by stock analysts at Argus from a “hold” rating to a “buy” rating in a report released on Thursday. The firm currently has a $27.00 price objective on the technology company’s stock. Argus’ price objective indicates a potential upside of 23.29% from the company’s previous close.

Several other brokerages also recently commented on T. UBS Group lifted their target price on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Evercore ISI boosted their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Oppenheimer initiated coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

AT&T Stock Performance

Shares of T opened at $21.90 on Thursday. The company has a market capitalization of $157.14 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59. AT&T has a one year low of $15.94 and a one year high of $24.03. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The company’s fifty day moving average price is $22.80 and its 200 day moving average price is $21.28.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. As a group, analysts expect that AT&T will post 2.2 earnings per share for the current year.

Hedge Funds Weigh In On AT&T

A number of institutional investors and hedge funds have recently added to or reduced their stakes in T. Clarius Group LLC lifted its position in shares of AT&T by 5.9% during the fourth quarter. Clarius Group LLC now owns 33,403 shares of the technology company’s stock worth $761,000 after purchasing an additional 1,866 shares in the last quarter. Aaron Wealth Advisors LLC lifted its position in shares of AT&T by 14.4% during the fourth quarter. Aaron Wealth Advisors LLC now owns 41,502 shares of the technology company’s stock worth $945,000 after purchasing an additional 5,224 shares in the last quarter. Whitaker Myers Wealth Managers LTD. acquired a new position in shares of AT&T during the fourth quarter worth approximately $332,000. Moss Adams Wealth Advisors LLC lifted its position in shares of AT&T by 12.3% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 16,991 shares of the technology company’s stock worth $387,000 after purchasing an additional 1,864 shares in the last quarter. Finally, Veery Capital LLC acquired a new position in shares of AT&T during the fourth quarter worth approximately $214,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Company Profile

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.