BT Group (NYSE:BT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
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 research firms have also recently weighed in on BT. Numis Securities reaffirmed a “buy” rating and issued a GBX 390 ($5.21) price target on shares of BT Group in a report on Tuesday, October 31st. ValuEngine raised BT Group from a “hold” rating to a “buy” rating in a report on Monday, November 27th. Bank of America raised BT Group from a “neutral” rating to a “buy” rating in a report on Tuesday. Jefferies Group decreased their price objective on BT Group from GBX 280 ($3.74) to GBX 265 ($3.54) and set a “hold” rating on the stock in a report on Wednesday, October 25th. Finally, Credit Suisse Group decreased their price objective on BT Group from GBX 320 ($4.28) to GBX 280 ($3.74) and set a “neutral” rating on the stock in a report on Tuesday, November 7th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $317.18.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new position in BT Group during the 2nd quarter worth approximately $129,000. Stephens Inc. AR grew its position in BT Group by 3.2% during the 2nd quarter. Stephens Inc. AR now owns 11,204 shares of the utilities provider’s stock worth $217,000 after acquiring an additional 343 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in BT Group during the 3rd quarter worth approximately $224,000. FDx Advisors Inc. bought a new position in BT Group during the 3rd quarter worth approximately $233,000. Finally, Sei Investments Co. grew its position in BT Group by 125.9% during the 2nd quarter. Sei Investments Co. now owns 16,067 shares of the utilities provider’s stock worth $312,000 after acquiring an additional 8,954 shares during the last quarter. Institutional investors and hedge funds own 0.96% of the company’s stock.
About BT Group
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