Scotiabank Boosts AT&T (NYSE:T) Price Target to $26.00

AT&T (NYSE:T) had its target price increased by research analysts at Scotiabank from $24.00 to $26.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s price target indicates a potential upside of 7.29% from the stock’s previous close.

Several other equities analysts have also commented on T. JPMorgan Chase & Co. increased their price objective on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer initiated coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target for the company. Wells Fargo & Company dropped their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada raised their target price on AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.11.

AT&T Price Performance

Shares of T stock opened at $24.23 on Tuesday. The stock has a market capitalization of $173.89 billion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 3.50 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T has a twelve month low of $15.94 and a twelve month high of $24.98. The stock has a fifty day simple moving average of $22.86 and a two-hundred day simple moving average of $21.55.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates 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, analysts predict that AT&T will post 2.21 EPS for the current fiscal year.

Institutional Investors Weigh In On AT&T

A number of institutional investors have recently made changes to their positions in T. Legacy Investment Solutions LLC purchased a new stake in AT&T during the 3rd quarter worth approximately $25,000. YANKCOM Partnership acquired a new position in shares of AT&T in the fourth quarter worth $30,000. Ritter Daniher Financial Advisory LLC DE increased its position 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 acquiring an additional 841 shares during the period. Endeavor Private Wealth Inc. acquired a new stake in shares of AT&T in the fourth quarter valued at $34,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in AT&T in the third quarter valued at $35,000. 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.