Barclays Boosts AT&T (NYSE:T) Price Target to $24.00

AT&T (NYSE:T) had its target price boosted by equities research analysts at Barclays from $22.00 to $24.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s price target would suggest a potential upside of 6.71% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Citigroup boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Evercore ISI boosted their price objective on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. Redburn Atlantic raised AT&T to a “strong sell” rating in a research report on Monday, September 16th. Royal Bank of Canada increased their price objective on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Finally, Daiwa America raised shares of AT&T to a “hold” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.07.

AT&T Trading Up 4.6 %

T opened at $22.49 on Thursday. The stock has a market cap of $161.26 billion, a PE ratio of 12.93, a PEG ratio of 3.73 and a beta of 0.60. 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 business has a 50 day moving average of $21.09 and a 200-day moving average of $19.06. AT&T has a 52 week low of $14.74 and a 52 week high of $22.58.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating 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 10.41% and a return on equity of 14.16%. The company’s revenue was down .5% on a year-over-year basis. During the same period last year, the firm earned $0.64 EPS. Equities research analysts predict that AT&T will post 2.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AT&T

Several large investors have recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC increased its holdings in shares of AT&T by 9.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 73,404 shares of the technology company’s stock valued at $1,292,000 after buying an additional 6,064 shares in the last quarter. 180 Wealth Advisors LLC increased its position in AT&T by 1.9% during the first quarter. 180 Wealth Advisors LLC now owns 63,605 shares of the technology company’s stock worth $1,119,000 after acquiring an additional 1,171 shares during the period. Cypress Wealth Services LLC increased its holdings in shares of AT&T by 11.0% during the 1st quarter. Cypress Wealth Services LLC now owns 12,276 shares of the technology company’s stock worth $216,000 after purchasing an additional 1,220 shares during the period. Hennessy Advisors Inc. increased its holdings in shares of AT&T by 24.2% during the 1st quarter. Hennessy Advisors Inc. now owns 321,660 shares of the technology company’s stock worth $5,661,000 after purchasing an additional 62,700 shares during the period. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of AT&T during the 1st quarter valued at about $782,000. 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.