Zacks Investment Research lowered shares of BT Group PLC (NYSE:BT) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

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 research analysts have also recently issued reports on the company. Deutsche Bank AG reaffirmed a sell rating and set a GBX 265 ($3.43) target price on shares of BT Group PLC in a research report on Thursday, August 24th. BidaskClub cut BT Group PLC from a buy rating to a hold rating in a research report on Friday, August 18th. Barclays PLC reaffirmed an overweight rating and set a GBX 450 ($5.82) target price on shares of BT Group PLC in a research report on Wednesday, August 9th. Numis Securities Ltd reaffirmed a buy rating and set a GBX 390 ($5.04) target price on shares of BT Group PLC in a research report on Monday, August 7th. Finally, Royal Bank Of Canada reaffirmed an outperform rating and set a GBX 410 ($5.30) target price on shares of BT Group PLC in a research report on Monday, July 31st. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $339.22.

BT Group PLC (BT) opened at 19.10 on Tuesday. The stock’s 50 day moving average is $19.86 and its 200-day moving average is $19.85. The firm has a market capitalization of $37.96 billion, a PE ratio of 18.45 and a beta of 1.05. BT Group PLC has a 52-week low of $18.06 and a 52-week high of $26.76.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BT. Raymond James Financial Services Advisors Inc. bought a new position in BT Group PLC during the first quarter valued at about $316,000. Stevens Capital Management LP raised its position in BT Group PLC by 122.8% in the first quarter. Stevens Capital Management LP now owns 24,556 shares of the utilities provider’s stock valued at $493,000 after buying an additional 13,536 shares in the last quarter. Bank of Montreal Can raised its position in BT Group PLC by 252.2% in the first quarter. Bank of Montreal Can now owns 46,862 shares of the utilities provider’s stock valued at $941,000 after buying an additional 33,555 shares in the last quarter. M&T Bank Corp raised its position in BT Group PLC by 191.3% in the first quarter. M&T Bank Corp now owns 70,240 shares of the utilities provider’s stock valued at $1,411,000 after buying an additional 46,125 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in BT Group PLC by 11.6% in the first quarter. Alliancebernstein L.P. now owns 67,003 shares of the utilities provider’s stock valued at $1,346,000 after buying an additional 6,944 shares in the last quarter. Hedge funds and other institutional investors own 0.99% of the company’s stock.

About BT Group PLC

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