Oppenheimer Boosts AT&T (NYSE:T) Price Target to $32.00

AT&T (NYSE:T) had its price target upped by analysts at Oppenheimer from $27.00 to $32.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target suggests a potential upside of 12.46% from the stock’s previous close.

A number of other brokerages have also recently issued reports on T. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Wednesday, January 29th. Tigress Financial boosted their price objective on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Sanford C. Bernstein raised their target price on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.21.

AT&T Price Performance

NYSE T traded up $0.18 on Tuesday, reaching $28.46. The company’s stock had a trading volume of 24,187,949 shares, compared to its average volume of 36,200,138. AT&T has a twelve month low of $15.94 and a twelve month high of $28.61. 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 firm’s 50 day moving average is $25.82 and its two-hundred day moving average is $23.59. The stock has a market cap of $204.26 billion, a PE ratio of 19.10, a PEG 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 net margin of 8.95% and a return on equity of 13.97%. As a group, sell-side analysts predict that AT&T will post 2.14 EPS for the current year.

Hedge Funds Weigh In On AT&T

Several hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC bought a new position in shares of AT&T in the fourth quarter valued at approximately $14,700,000. Franklin Resources Inc. raised its holdings in AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after acquiring an additional 2,326,904 shares during the period. Consolidated Planning Corp lifted its position in AT&T by 7.4% during the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock worth $7,288,000 after acquiring an additional 21,927 shares during the last quarter. Fortress Financial Solutions LLC bought a new stake in AT&T during the fourth quarter valued at about $691,000. Finally, West Family Investments Inc. grew its position in shares of AT&T by 70.4% in the fourth quarter. West Family Investments Inc. now owns 37,961 shares of the technology company’s stock valued at $864,000 after purchasing an additional 15,680 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

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.