Royal Bank of Canada Raises AT&T (NYSE:T) Price Target to $28.00

AT&T (NYSE:T) had its target price boosted by Royal Bank of Canada from $27.00 to $28.00 in a report released on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

T has been the subject of several other reports. JPMorgan Chase & Co. upped their price objective on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Citigroup increased their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Wednesday, January 29th. BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective for the company in a research note on Thursday, February 13th. Finally, UBS Group raised their target price on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average price target of $26.79.

AT&T Trading Up 0.9 %

T stock opened at $27.04 on Wednesday. AT&T has a 52 week low of $15.94 and a 52 week high of $27.97. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The company’s 50-day simple moving average is $25.13 and its 200 day simple moving average is $23.28. The company has a market capitalization of $194.06 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last released 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 return on equity of 13.97% and a net margin of 8.95%. As a group, sell-side analysts anticipate that AT&T will post 2.14 earnings per share for the current year.

Institutional Trading of AT&T

Large investors have recently modified their holdings of the business. Legacy Investment Solutions LLC purchased a new position in AT&T during the 3rd quarter valued at $25,000. Minot DeBlois Advisors LLC bought a new stake in shares of AT&T during the 4th quarter valued at about $25,000. Capital A Wealth Management LLC purchased a new position in shares of AT&T during the fourth quarter valued at about $25,000. Putney Financial Group LLC bought a new position in AT&T in the fourth quarter worth about $27,000. Finally, Marshall Investment Management LLC purchased a new stake in AT&T in the fourth quarter worth about $28,000. 57.10% of the stock is owned by institutional investors.

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.