AT&T (NYSE:T) Stock Rating Upgraded by Argus

AT&T (NYSE:T - Get Free Report) was upgraded by analysts at Argus from a "hold" rating to a "buy" rating in a note issued to investors on Thursday, MarketBeat reports. The brokerage presently has a $27.00 price objective on the technology company's stock. Argus' price objective points to a potential upside of 22.64% from the stock's previous close.

Several other research firms have also issued reports on T. Morgan Stanley raised shares of AT&T from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Royal Bank of Canada upgraded AT&T from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $22.00 to $26.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. boosted their price target on AT&T from $25.00 to $28.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. New Street Research upgraded AT&T from a "neutral" rating to a "buy" rating in a research note on Tuesday, December 3rd. Finally, Citigroup boosted their target price on shares of AT&T from $26.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $25.83.

AT&T Stock Performance

AT&T stock traded up $0.11 during trading hours on Thursday, hitting $22.02. The stock had a trading volume of 25,633,068 shares, compared to its average volume of 34,232,238. The company has a 50-day moving average of $22.79 and a two-hundred day moving average of $21.28. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T has a fifty-two week low of $15.94 and a fifty-two week high of $24.03. The company has a market cap of $157.96 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same period in the prior year, the company posted $0.64 earnings per share. AT&T's revenue was down .5% on a year-over-year basis. On average, equities research analysts anticipate that AT&T will post 2.2 EPS for the current fiscal year.

Institutional Investors Weigh In On AT&T

Several institutional investors have recently modified their holdings of the business. Legacy Investment Solutions LLC acquired a new stake in shares of AT&T during the third quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE grew its position in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company's stock worth $29,000 after buying an additional 841 shares during the period. Safe Harbor Fiduciary LLC acquired a new position in shares of AT&T during the 3rd quarter worth about $35,000. Reston Wealth Management LLC bought a new stake in shares of AT&T in the 3rd quarter valued at about $35,000. Finally, Altshuler Shaham Ltd acquired a new stake in shares of AT&T in the 2nd quarter valued at approximately $30,000. Institutional investors and hedge funds 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.