Barclays Upgrades AT&T (NYSE:T) to “Overweight”

AT&T (NYSE:T) was upgraded by equities research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued on Monday, FinViz reports. The brokerage presently has a $20.00 price objective on the technology company’s stock. Barclays‘s price objective suggests a potential upside of 19.40% from the stock’s current price.

Several other brokerages have also weighed in on T. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a research report on Thursday, April 11th. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Friday, January 19th. TheStreet raised AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Finally, Scotiabank raised their price objective on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average price target of $20.81.

AT&T Price Performance

Shares of NYSE:T opened at $16.75 on Monday. AT&T has a one year low of $13.43 and a one year high of $18.16. The business’s fifty day moving average price is $16.96 and its two-hundred day moving average price is $16.58. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The stock has a market cap of $119.81 billion, a PE ratio of 9.01, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter last year, the firm earned $0.60 earnings per share. The business’s revenue was down .4% on a year-over-year basis. On average, analysts forecast that AT&T will post 2.22 EPS for the current fiscal year.

Institutional Investors Weigh In On AT&T

A number of hedge funds have recently made changes to their positions in T. Exchange Traded Concepts LLC raised its holdings in shares of AT&T by 33.0% during the third quarter. Exchange Traded Concepts LLC now owns 43,337 shares of the technology company’s stock valued at $651,000 after buying an additional 10,758 shares during the last quarter. Avestar Capital LLC bought a new stake in AT&T during the third quarter worth approximately $237,000. PDS Planning Inc raised its holdings in AT&T by 8.7% during the third quarter. PDS Planning Inc now owns 26,173 shares of the technology company’s stock worth $393,000 after purchasing an additional 2,104 shares in the last quarter. Garrison Asset Management LLC bought a new stake in AT&T during the third quarter worth approximately $158,000. Finally, All Season Financial Advisors Inc. raised its holdings in AT&T by 2.4% during the third quarter. All Season Financial Advisors Inc. now owns 41,459 shares of the technology company’s stock worth $623,000 after purchasing an additional 978 shares in the last quarter. 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.