AT&T (NYSE:T) Price Target Raised to $29.00 at Scotiabank

AT&T (NYSE:T - Get Free Report) had its price target increased by investment analysts at Scotiabank from $28.50 to $29.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the technology company's stock. Scotiabank's target price points to a potential upside of 8.26% from the company's previous close.

A number of other equities analysts also recently commented on the stock. Royal Bank of Canada lifted their price objective on shares of AT&T from $27.00 to $28.00 and gave the stock an "outperform" rating in a report on Wednesday, March 19th. Tigress Financial boosted their price objective on shares of AT&T from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Citigroup reissued a "buy" rating on shares of AT&T in a report on Monday, April 7th. BNP Paribas raised AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price target on the stock in a report on Thursday, February 13th. Finally, Sanford C. Bernstein upped their price objective on AT&T from $28.00 to $29.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AT&T currently has a consensus rating of "Moderate Buy" and an average price target of $27.24.

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AT&T Stock Up 1.5 %

NYSE T traded up $0.40 during trading hours on Tuesday, hitting $26.79. The company had a trading volume of 32,053,085 shares, compared to its average volume of 36,912,136. The firm's 50 day moving average is $26.59 and its 200 day moving average is $23.97. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. AT&T has a fifty-two week low of $15.94 and a fifty-two week high of $29.03. The company has a market capitalization of $192.29 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Sell-side analysts anticipate that AT&T will post 2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of T. Minot DeBlois Advisors LLC bought a new stake in shares of AT&T during the fourth quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new stake in shares of AT&T during the fourth quarter worth $25,000. Putney Financial Group LLC acquired a new position in shares of AT&T in the fourth quarter valued at about $27,000. Marshall Investment Management LLC acquired a new stake in AT&T in the 4th quarter worth about $28,000. Finally, YANKCOM Partnership acquired a new position in shares of AT&T during the 4th quarter worth approximately $30,000. 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.