AT&T (NYSE:T) Given New $21.00 Price Target at Evercore ISI

AT&T (NYSE:T) had its target price lifted by equities research analysts at Evercore ISI from $19.00 to $21.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “in-line” rating on the technology company’s stock. Evercore ISI’s target price indicates a potential downside of 3.85% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. raised their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. The Goldman Sachs Group initiated coverage on AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 price target for the company. Finally, TD Cowen lifted their price objective on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Performance

Shares of T stock opened at $21.84 on Thursday. The company has a market capitalization of $156.60 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 3.67 and a beta of 0.60. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T has a 52 week low of $14.74 and a 52 week high of $22.58. The company has a 50-day simple moving average of $21.15 and a 200 day simple moving average of $19.08.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 earnings per share. On average, sell-side analysts predict that AT&T will post 2.22 earnings per share for the current year.

Institutional Trading of AT&T

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Riggs Asset Managment Co. Inc. increased its stake in shares of AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares during the period. American Capital Advisory LLC grew its stake in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in AT&T in the second quarter valued at $30,000. Marquette Asset Management LLC bought a new position in AT&T during the 3rd quarter worth $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in AT&T by 176.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after buying an additional 1,192 shares during the period. Institutional investors own 57.10% of the company’s stock.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.