AT&T (NYSE:T) Given New $32.00 Price Target at Citigroup

AT&T (NYSE:T) had its price target hoisted by equities research analysts at Citigroup from $28.00 to $32.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s price target points to a potential upside of 13.17% from the stock’s current price.

Other analysts also recently issued reports about the company. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Wednesday, January 29th. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $19.00 to $28.00 in a report on Monday, December 16th. Oppenheimer initiated coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. The Goldman Sachs Group upped their price target on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, UBS Group lifted their price objective on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $27.00.

AT&T Stock Performance

AT&T stock traded up $0.10 during mid-day trading on Monday, hitting $28.28. 11,822,985 shares of the company’s stock traded hands, compared to its average volume of 36,096,857. The firm has a 50 day simple moving average of $25.70 and a two-hundred day simple moving average of $23.54. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The stock has a market cap of $202.96 billion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 3.00 and a beta of 0.56. AT&T has a fifty-two week low of $15.94 and a fifty-two week high of $28.55.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping 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%. On average, research analysts expect that AT&T will post 2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Legacy Investment Solutions LLC purchased a new stake in AT&T in the third quarter worth about $25,000. Minot DeBlois Advisors LLC bought a new position in AT&T during the fourth quarter valued at approximately $25,000. Capital A Wealth Management LLC purchased a new stake in AT&T in the fourth quarter worth approximately $25,000. Putney Financial Group LLC purchased a new stake in AT&T during the 4th quarter valued at $27,000. Finally, Marshall Investment Management LLC purchased a new position in shares of AT&T in the 4th quarter worth $28,000. Institutional investors 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.