BT Group PLC (BT) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of BT Group PLC (NYSE:BT) from a hold rating to a buy rating in a report issued on Thursday morning. Zacks Investment Research currently has $22.00 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. “
Several other brokerages also recently issued reports on BT. Deutsche Bank AG reissued a sell rating and set a GBX 265 ($3.57) price target on shares of BT Group PLC in a report on Wednesday, August 2nd. Numis Securities Ltd restated a buy rating and set a GBX 390 ($5.26) price objective on shares of BT Group PLC in a research note on Monday, August 7th. BidaskClub upgraded shares of BT Group PLC from a hold rating to a buy rating in a research note on Monday, July 31st. Barclays PLC restated an overweight rating and set a GBX 450 ($6.07) price objective on shares of BT Group PLC in a research note on Tuesday, August 1st. Finally, Goldman Sachs Group, Inc. (The) cut their price objective on shares of BT Group PLC from GBX 350 ($4.72) to GBX 340 ($4.58) and set a neutral rating on the stock in a research note on Wednesday, May 24th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. BT Group PLC has a consensus rating of Hold and an average target price of $340.11.
Shares of BT Group PLC (NYSE BT) traded down 0.238% during trading on Thursday, hitting $19.314. 208,865 shares of the stock were exchanged. The stock has a market cap of $38.39 billion, a P/E ratio of 18.571 and a beta of 1.06. The stock has a 50-day moving average of $19.44 and a 200 day moving average of $19.76. BT Group PLC has a 12-month low of $18.06 and a 12-month high of $26.35.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new position in BT Group PLC in the 2nd quarter worth about $129,000. Creative Planning increased its stake in BT Group PLC by 5.9% in the 2nd quarter. Creative Planning now owns 6,750 shares of the utilities provider’s stock worth $131,000 after purchasing an additional 377 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in BT Group PLC in the 1st quarter worth about $205,000. Stephens Inc. AR purchased a new position in BT Group PLC in the 1st quarter worth about $218,000. Finally, WealthTrust Axiom LLC purchased a new position in BT Group PLC in the 2nd quarter worth about $227,000. 0.99% of the stock is currently owned by hedge funds and other institutional investors.
About BT Group PLC
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