Royal Bank of Canada Forecasts Strong Price Appreciation for AT&T (NYSE:T) Stock

AT&T (NYSE:T) had its target price lifted by stock analysts at Royal Bank of Canada from $26.00 to $27.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 11.41% from the stock’s current price.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group lifted their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Citigroup increased their price objective on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. UBS Group raised their target price on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Barclays upped their price target on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.11.

AT&T Price Performance

T opened at $24.23 on Tuesday. The firm has a 50-day moving average of $22.86 and a 200 day moving average of $21.55. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T has a fifty-two week low of $15.94 and a fifty-two week high of $24.98. The firm has a market cap of $173.89 billion, a P/E ratio of 19.70, a PEG ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. On average, research analysts expect that AT&T will post 2.21 EPS for the current year.

Institutional Trading of AT&T

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Legacy Investment Solutions LLC purchased a new stake in AT&T during the 3rd quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE boosted its holdings in shares of AT&T by 169.2% during 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 period. YANKCOM Partnership bought a new stake in shares of AT&T in the fourth quarter worth about $30,000. Endeavor Private Wealth Inc. purchased a new position in AT&T during the 4th quarter valued at about $34,000. Finally, Reston Wealth Management LLC purchased a new stake in AT&T in the 3rd quarter worth approximately $35,000. Institutional investors own 57.10% of the company’s stock.

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.