Credit Suisse Group Lowers BT Group PLC (BT) to Neutral

Credit Suisse Group cut shares of BT Group PLC (NYSE:BT) to a neutral rating in a report issued on Monday morning, StockTargetPrices.com reports. Credit Suisse Group currently has GBX 310 ($4.08) price objective on the utilities provider’s stock, down from their prior price objective of GBX 360 ($4.73).

A number of other analysts also recently commented on the company. Morgan Stanley dropped their price objective on BT Group PLC from GBX 350 ($4.60) to GBX 320 ($4.21) and set an equal weight rating for the company in a report on Wednesday, October 4th. Zacks Investment Research upgraded BT Group PLC from a hold rating to a buy rating and set a $22.00 price target for the company in a report on Monday, October 2nd. Numis Securities Ltd reiterated a buy rating and issued a GBX 390 ($5.13) price target on shares of BT Group PLC in a report on Sunday, September 24th. Jefferies Group LLC reiterated a hold rating and issued a GBX 280 ($3.68) price target on shares of BT Group PLC in a report on Tuesday, September 19th. Finally, Macquarie reiterated an outperform rating on shares of BT Group PLC in a report on Monday, September 18th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. BT Group PLC presently has an average rating of Hold and a consensus target price of $334.00.

BT Group PLC (BT) opened at 18.56 on Monday. The stock has a market capitalization of $36.89 billion, a price-to-earnings ratio of 17.51 and a beta of 1.04. The stock’s 50 day moving average price is $19.05 and its 200 day moving average price is $19.60. BT Group PLC has a 52-week low of $18.06 and a 52-week high of $24.65.

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Several hedge funds have recently modified their holdings of BT. Russell Investments Group Ltd. bought a new position in shares of BT Group PLC during the second quarter worth about $129,000. Creative Planning lifted its position in shares of BT Group PLC by 5.9% during the second quarter. Creative Planning now owns 6,750 shares of the utilities provider’s stock worth $131,000 after purchasing an additional 377 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of BT Group PLC during the first quarter worth about $205,000. Stephens Inc. AR lifted its position in shares of BT Group PLC by 3.2% during the second quarter. Stephens Inc. AR now owns 11,204 shares of the utilities provider’s stock worth $217,000 after purchasing an additional 343 shares during the last quarter. Finally, WealthTrust Axiom LLC bought a new position in shares of BT Group PLC during the second quarter worth about $227,000. 0.99% of the stock is currently owned by institutional investors and hedge funds.

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