Scotiabank Forecasts Strong Price Appreciation for AT&T (NYSE:T) Stock

AT&T (NYSE:T - Get Free Report) had its target price boosted by stock analysts at Scotiabank from $26.00 to $28.50 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "sector outperform" rating on the technology company's stock. Scotiabank's price target would indicate a potential upside of 6.60% from the stock's previous close.

T has been the topic of several other reports. 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 research note on Wednesday, January 29th. BNP Paribas upgraded AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price objective on the stock in a research note on Thursday, February 13th. Citigroup increased their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Morgan Stanley raised shares of AT&T from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Finally, New Street Research raised shares of AT&T from a "neutral" rating to a "buy" rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $26.74.

AT&T Stock Performance

T stock traded up $0.56 during midday trading on Monday, hitting $26.74. The company's stock had a trading volume of 32,181,794 shares, compared to its average volume of 40,866,109. AT&T has a 1 year low of $15.94 and a 1 year high of $27.97. The stock has a market cap of $191.91 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 3.00 and a beta of 0.56. The stock's 50-day moving average price is $24.14 and its 200 day moving average price is $22.72. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping 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%. On average, equities analysts forecast that AT&T will post 2.14 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in AT&T by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock worth $14,637,914,000 after purchasing an additional 6,220,442 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of AT&T by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock valued at $3,719,723,000 after acquiring an additional 2,640,644 shares during the last quarter. GQG Partners LLC boosted its holdings in AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after acquiring an additional 26,280,866 shares during the period. Bank of New York Mellon Corp grew its position in AT&T by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock worth $1,948,943,000 after acquiring an additional 5,649,277 shares during the last quarter. Finally, Norges Bank bought a new stake in AT&T in the fourth quarter valued at approximately $1,858,418,000. 57.10% of the stock is currently owned by institutional investors.

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.