BT Group PLC (BT) Raised to Buy at Zacks Investment Research
BT Group PLC (NYSE:BT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday.
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. “
A number of other research analysts have also recently issued reports on the company. J P Morgan Chase & Co reiterated a “neutral” rating and set a GBX 290 ($3.91) price objective on shares of BT Group PLC in a research note on Wednesday, July 12th. Numis Securities Ltd assumed coverage on BT Group PLC in a research note on Thursday, July 13th. They set a “buy” rating and a GBX 390 ($5.26) price objective for the company. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a GBX 340 ($4.58) price objective on shares of BT Group PLC in a research note on Monday, July 17th. Exane BNP Paribas cut BT Group PLC from a “neutral” rating to an “underperform” rating in a research note on Thursday, May 25th. Finally, Deutsche Bank AG reiterated a “sell” rating and set a GBX 265 ($3.57) price objective on shares of BT Group PLC in a research note on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company. BT Group PLC has an average rating of “Hold” and an average price target of $340.06.
Shares of BT Group PLC (BT) remained flat at $19.54 during midday trading on Friday. The company’s stock had a trading volume of 641,777 shares. BT Group PLC has a 1-year low of $18.06 and a 1-year high of $26.35. The company has a market cap of $38.84 billion, a P/E ratio of 18.79 and a beta of 1.06. The company has a 50 day moving average of $19.48 and a 200-day moving average of $19.76.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new stake in shares of BT Group PLC in the second quarter worth $129,000. Creative Planning grew its holdings in BT Group PLC by 5.9% during the second quarter. Creative Planning now owns 6,750 shares of the utilities provider’s stock valued at $131,000 after purchasing an additional 377 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in BT Group PLC during the first quarter valued at about $205,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in BT Group PLC during the first quarter valued at about $211,000. Finally, Stephens Inc. AR grew its holdings in BT Group PLC by 3.2% during the second quarter. Stephens Inc. AR now owns 11,204 shares of the utilities provider’s stock valued at $217,000 after purchasing an additional 343 shares during the period. 0.99% of the stock is owned by institutional investors.
About BT Group PLC
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