AT&T (NYSE:T) Upgraded by JPMorgan Chase & Co. to “Overweight”

AT&T (NYSE:TGet Rating) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Monday, The Fly reports.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $32.00 to $28.00 in a report on Thursday, December 16th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of AT&T from $37.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, January 27th. Cowen lowered their target price on shares of AT&T from $33.00 to $29.00 and set a “market perform” rating on the stock in a research note on Thursday, January 27th. Raymond James lowered their price objective on shares of AT&T from $33.00 to $32.00 and set an “outperform” rating on the stock in a research report on Thursday, February 10th. Finally, Wolfe Research lowered their price objective on shares of AT&T from $29.00 to $27.00 and set a “peer perform” rating on the stock in a research report on Thursday, January 27th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $28.95.

Shares of NYSE:T opened at $24.14 on Monday. The company’s 50 day simple moving average is $23.73 and its 200 day simple moving average is $24.69. The stock has a market capitalization of $172.43 billion, a price-to-earnings ratio of 8.75, a price-to-earnings-growth ratio of 2.17 and a beta of 0.68. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.66. AT&T has a 1 year low of $22.02 and a 1 year high of $33.88.

AT&T (NYSE:TGet Rating) last posted its earnings results on Wednesday, January 26th. The technology company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The firm had revenue of $40.96 billion for the quarter, compared to analysts’ expectations of $40.75 billion. AT&T had a net margin of 11.89% and a return on equity of 13.50%. The company’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 earnings per share. As a group, analysts anticipate that AT&T will post 3.12 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the stock. Econ Financial Services Corp acquired a new stake in shares of AT&T during the 4th quarter worth approximately $26,000. KRS Capital Management LLC purchased a new position in shares of AT&T during the 4th quarter worth $27,000. MFA Wealth Advisors LLC acquired a new position in AT&T in the 3rd quarter valued at about $29,000. Atwood & Palmer Inc. acquired a new position in AT&T in the 4th quarter valued at about $29,000. Finally, Arlington Partners LLC grew its position in shares of AT&T by 70.7% during the fourth quarter. Arlington Partners LLC now owns 1,263 shares of the technology company’s stock worth $31,000 after buying an additional 523 shares in the last quarter. 51.63% of the stock is owned by hedge funds and other institutional investors.

About AT&T (Get Rating)

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

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