BT Group PLC (NYSE:BT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

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 equities analysts have also recently weighed in on the company. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of BT Group PLC in a report on Monday, July 18th. Deutsche Bank AG reissued a “sell” rating and set a GBX 390 ($5.09) target price on shares of BT Group PLC in a report on Tuesday, September 6th. Credit Suisse Group AG cut BT Group PLC from an “outperform” rating to a “neutral” rating and reduced their target price for the company from GBX 510 ($6.66) to GBX 400 ($5.22) in a report on Monday, June 27th. Jefferies Group reduced their target price on BT Group PLC from GBX 405 ($5.29) to GBX 400 ($5.22) and set a “hold” rating for the company in a report on Monday, August 15th. Finally, BNP Paribas raised BT Group PLC from an “underperform” rating to a “neutral” rating in a report on Thursday, September 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. BT Group PLC currently has an average rating of “Hold” and a consensus price target of $453.39.

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Shares of BT Group PLC (NYSE:BT) traded up 1.77% during midday trading on Wednesday, hitting $25.81. The company had a trading volume of 388,893 shares. The company has a 50-day moving average of $26.12 and a 200-day moving average of $29.47. BT Group PLC has a 12 month low of $24.36 and a 12 month high of $37.69. The company has a market capitalization of $51.27 billion, a PE ratio of 13.24 and a beta of 1.09.

Hedge funds have recently made changes to their positions in the stock. Miller Howard Investments Inc. NY bought a new stake in shares of BT Group PLC during the second quarter valued at about $7,453,000. Thornburg Investment Management Inc. bought a new stake in shares of BT Group PLC during the second quarter valued at about $6,736,000. Renaissance Technologies LLC boosted its stake in shares of BT Group PLC by 4.5% in the first quarter. Renaissance Technologies LLC now owns 3,871,801 shares of the company’s stock valued at $124,207,000 after buying an additional 165,101 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of BT Group PLC by 19.9% in the first quarter. Royal Bank of Canada now owns 741,807 shares of the company’s stock valued at $23,796,000 after buying an additional 122,967 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of BT Group PLC during the first quarter valued at about $3,305,000. Institutional investors and hedge funds own 1.17% of the company’s stock.

About BT Group PLC

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