Altria Group (NYSE:MO) Price Target Raised to $46.00

Altria Group (NYSE:MO - Get Free Report) had its price objective hoisted by analysts at Barclays from $45.00 to $46.00 in a report released on Wednesday, Benzinga reports. The firm presently has an "underweight" rating on the stock. Barclays's target price would indicate a potential downside of 15.27% from the company's previous close.

A number of other equities analysts have also recently weighed in on the company. Stifel Nicolaus boosted their price target on Altria Group from $54.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Citigroup lifted their price target on shares of Altria Group from $44.50 to $48.00 and gave the company a "neutral" rating in a report on Tuesday, October 8th. Bank of America decreased their target price on Altria Group from $57.00 to $53.00 and set a "neutral" rating for the company in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft increased their price target on Altria Group from $52.00 to $60.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, StockNews.com upgraded Altria Group from a "hold" rating to a "buy" rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Altria Group has a consensus rating of "Hold" and a consensus target price of $51.33.

Altria Group Stock Up 0.2 %

Shares of NYSE MO traded up $0.10 during midday trading on Wednesday, hitting $54.29. The company had a trading volume of 8,925,437 shares, compared to its average volume of 9,874,065. The business has a 50-day simple moving average of $51.47 and a two-hundred day simple moving average of $48.66. Altria Group has a twelve month low of $39.25 and a twelve month high of $55.05. The firm has a market capitalization of $92.63 billion, a price-to-earnings ratio of 9.21, a price-to-earnings-growth ratio of 3.11 and a beta of 0.64.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.35 by $0.03. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.33 billion. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The company's quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.28 EPS. On average, equities analysts forecast that Altria Group will post 5.11 EPS for the current year.

Hedge Funds Weigh In On Altria Group

A number of institutional investors have recently made changes to their positions in the business. MFA Wealth Advisors LLC bought a new position in shares of Altria Group during the second quarter worth about $27,000. Hobbs Group Advisors LLC acquired a new position in shares of Altria Group in the 2nd quarter worth approximately $30,000. Valley Wealth Managers Inc. grew its position in shares of Altria Group by 63.9% in the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company's stock worth $30,000 after acquiring an additional 260 shares in the last quarter. Fairman Group LLC increased its holdings in shares of Altria Group by 85.1% in the 3rd quarter. Fairman Group LLC now owns 892 shares of the company's stock valued at $46,000 after acquiring an additional 410 shares during the last quarter. Finally, Lynx Investment Advisory acquired a new stake in shares of Altria Group during the 2nd quarter valued at approximately $44,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Company Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.