AT&T (NYSE:T) Given New $28.00 Price Target at Royal Bank of Canada

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

T has been the subject of several other research reports. Sanford C. Bernstein boosted their target price on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. increased their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. BNP Paribas upgraded AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target for the company in a report on Thursday, February 13th. Finally, DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $26.79.

AT&T Trading Up 0.9 %

NYSE:T opened at $26.85 on Wednesday. AT&T has a one year low of $15.94 and a one year high of $27.97. The business’s 50-day simple moving average is $24.93 and its 200 day simple moving average is $23.20. 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 stock has a market cap of $192.75 billion, a price-to-earnings ratio of 18.02, 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 EPS for the quarter, beating the consensus estimate 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 predict that AT&T will post 2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AT&T

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital A Wealth Management LLC acquired a new position in AT&T during the 4th quarter valued at about $25,000. Minot DeBlois Advisors LLC bought a new stake in AT&T during the fourth quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new position in AT&T during the 3rd quarter valued at $25,000. Putney Financial Group LLC acquired a new position in shares of AT&T during the 4th quarter valued at $27,000. Finally, Marshall Investment Management LLC acquired a new position in shares of AT&T during the 4th quarter valued at $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.