AT&T (NYSE:T) Stock Price Expected to Rise, Tigress Financial Analyst Says

AT&T (NYSE:T) had its price target increased by analysts at Tigress Financial from $30.00 to $32.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Tigress Financial’s price objective suggests a potential upside of 30.73% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Evercore ISI upped their price target on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Scotiabank increased their price target on shares of AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 28th. Citigroup increased their price target on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $19.00 to $28.00 in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.21.

AT&T Stock Performance

T opened at $24.48 on Tuesday. The stock has a market capitalization of $175.63 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 2.71 and a beta of 0.59. The company has a fifty day moving average of $22.97 and a 200 day moving average of $21.73. AT&T has a fifty-two week low of $15.94 and a fifty-two week high of $24.98. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, sell-side analysts forecast that AT&T will post 2.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AT&T

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AMF Tjanstepension AB boosted its stake in shares of AT&T by 305.1% in the 3rd quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock valued at $33,918,000 after buying an additional 1,161,152 shares during the period. Czech National Bank lifted its position in shares of AT&T by 6.9% during the 3rd quarter. Czech National Bank now owns 1,460,655 shares of the technology company’s stock valued at $32,134,000 after acquiring an additional 94,312 shares during the period. WealthBridge Capital Management LLC acquired a new position in AT&T during the third quarter worth about $218,000. Diversified Trust Co grew its holdings in shares of AT&T by 12.8% during the third quarter. Diversified Trust Co now owns 169,227 shares of the technology company’s stock worth $3,723,000 after buying an additional 19,255 shares in the last quarter. Finally, Everpar Advisors LLC grew its holdings in AT&T by 16.8% in the 3rd quarter. Everpar Advisors LLC now owns 12,474 shares of the technology company’s stock valued at $274,000 after buying an additional 1,796 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

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.