Zacks Investment Research Upgrades BT Group PLC (BT) to Buy
Zacks Investment Research upgraded shares of BT Group PLC (NYSE:BT) from a hold rating to a buy rating in a report released on Monday. The brokerage currently has $21.00 price objective on the utilities provider’s stock.
According to Zacks, “BT is one of the world’s leading providers of communications services and solutions, serving customers in more than 170 countries. Its principal activities include the provision of networked IT services globally; local, national and international telecommunications services to its customers for use at home, at work and on the move; broadband and internet products and services and converged fixed/mobile products and services. BT consists principally of four lines of business: BT Global Services, BT Retail, BT Wholesale and Openreach. British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on stock exchanges in London and New York. “
Other equities research analysts also recently issued reports about the stock. Citigroup Inc. restated a buy rating on shares of BT Group PLC in a research note on Monday, May 15th. Beaufort Securities lowered their target price on shares of BT Group PLC from GBX 390 ($5.04) to GBX 340 ($4.40) and set a buy rating for the company in a research note on Friday, May 12th. ValuEngine upgraded shares of BT Group PLC from a hold rating to a buy rating in a research note on Thursday, July 6th. Numis Securities Ltd initiated coverage on shares of BT Group PLC in a research note on Thursday, July 13th. They set a buy rating and a GBX 390 ($5.04) price objective for the company. Finally, BidaskClub upgraded shares of BT Group PLC from a hold rating to a buy rating in a research note on Monday, July 31st. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $339.22.
BT Group PLC (BT) opened at 19.10 on Monday. The company has a 50-day moving average price of $19.86 and a 200 day moving average price of $19.85. BT Group PLC has a 52-week low of $18.06 and a 52-week high of $26.76. The company has a market capitalization of $37.96 billion, a PE ratio of 18.45 and a beta of 1.05.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in BT Group PLC during the first quarter worth $211,000. Stevens Capital Management LP boosted its position in BT Group PLC by 122.8% in the first quarter. Stevens Capital Management LP now owns 24,556 shares of the utilities provider’s stock worth $493,000 after buying an additional 13,536 shares during the last quarter. Ameriprise Financial Inc. boosted its position in BT Group PLC by 10.4% in the first quarter. Ameriprise Financial Inc. now owns 48,683 shares of the utilities provider’s stock worth $977,000 after buying an additional 4,582 shares during the last quarter. First Foundation Advisors purchased a new position in BT Group PLC during the first quarter worth $413,000. Finally, Karp Capital Management Corp purchased a new position in BT Group PLC during the first quarter worth $6,762,000. 0.99% of the stock is owned by institutional investors.
BT Group PLC Company Profile
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