Oppenheimer Raises AT&T (NYSE:T) Price Target to $27.00

AT&T (NYSE:T) had its target price lifted by research analysts at Oppenheimer from $24.00 to $27.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s target price indicates a potential upside of 13.30% from the company’s current price.

T has been the subject of several other research reports. Evercore ISI increased their target price on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Wells Fargo & Company decreased their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a research note on Thursday, October 24th. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday. Finally, Barclays lifted their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average target price of $24.73.

AT&T Price Performance

T stock opened at $23.83 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The business has a 50-day simple moving average of $22.32 and a two-hundred day simple moving average of $20.30. The company has a market capitalization of $170.99 billion, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 3.56 and a beta of 0.59. AT&T has a 52-week low of $15.94 and a 52-week high of $24.03.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (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 analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. AT&T’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 earnings per share. Research analysts expect that AT&T will post 2.22 EPS for the current fiscal year.

Institutional Trading of AT&T

A number of institutional investors have recently added to or reduced their stakes in T. Chesapeake Wealth Management lifted its position in AT&T by 1.9% during the 3rd quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after acquiring an additional 460 shares during the period. Socha Financial Group LLC raised its stake in shares of AT&T by 2.5% in the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after purchasing an additional 461 shares during the last quarter. Garden State Investment Advisory Services LLC boosted its position in AT&T by 1.4% in the third quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after buying an additional 468 shares during the last quarter. Essex Savings Bank increased its holdings in AT&T by 2.3% in the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after buying an additional 480 shares during the period. Finally, Hayek Kallen Investment Management increased its stake in shares of AT&T by 0.8% in the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after acquiring an additional 500 shares during the period. Hedge funds and other 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.