BT Group PLC (BT) Cut to “Hold” at Zacks Investment Research
BT Group PLC (NYSE:BT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
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 analysts also recently issued reports about the stock. Citigroup Inc. reiterated a “buy” rating on shares of BT Group PLC in a report on Monday, May 29th. ValuEngine upgraded shares of BT Group PLC from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Numis Securities Ltd started coverage on shares of BT Group PLC in a report on Thursday, July 13th. They issued a “buy” rating and a GBX 390 ($5.26) price target on the stock. BidaskClub upgraded shares of BT Group PLC from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Finally, Morgan Stanley downgraded shares of BT Group PLC from an “overweight” rating to an “equal weight” rating in a report on Wednesday, May 31st. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. BT Group PLC presently has a consensus rating of “Hold” and an average target price of $340.06.
Shares of BT Group PLC (NYSE:BT) traded up 0.31% on Monday, reaching $19.54. 643,580 shares of the company traded hands. The stock has a 50-day moving average price of $19.51 and a 200 day moving average price of $19.78. BT Group PLC has a 1-year low of $18.06 and a 1-year high of $26.34. The firm has a market capitalization of $38.84 billion, a P/E ratio of 18.88 and a beta of 1.06.
A number of institutional investors have recently added to or reduced their stakes in BT. Russell Investments Group Ltd. purchased a new stake in BT Group PLC in the 2nd quarter valued at about $129,000. Creative Planning boosted its position in BT Group PLC by 5.9% in the 2nd quarter. Creative Planning now owns 6,750 shares of the utilities provider’s stock valued at $131,000 after buying an additional 377 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in BT Group PLC in the 1st quarter valued at about $205,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in BT Group PLC in the 1st quarter valued at about $211,000. Finally, Stephens Inc. AR boosted its position in BT Group PLC by 3.2% in the 2nd quarter. Stephens Inc. AR now owns 11,204 shares of the utilities provider’s stock valued at $217,000 after buying an additional 343 shares during the period. 0.99% of the stock is owned by institutional investors.
BT Group PLC Company Profile
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