Barclays Forecasts Strong Price Appreciation for Altria Group (NYSE:MO) Stock

Altria Group (NYSE:MO) had its price target boosted by equities researchers at Barclays from $58.00 to $60.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s target price indicates a potential downside of 22.28% from the stock’s previous close.

MO has been the topic of several other research reports. Freedom Broker upgraded Altria Group to a “hold” rating in a research report on Wednesday, September 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a research report on Monday, October 12th. Citigroup lifted their target price on Altria Group from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Friday. UBS Group upped their price target on Altria Group from $79.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday. Finally, BTIG Research assumed coverage on Altria Group in a report on Tuesday, July 21st. They set a “neutral” rating for the company. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $71.67.

Altria Group Stock Performance

Altria Group stock traded down $0.83 during midday trading on Monday, hitting $77.20. 5,484,791 shares of the company’s stock were exchanged, compared to its average volume of 9,076,484. Altria Group has a 12-month low of $54.70 and a 12-month high of $79.81. The stock has a market cap of $128.41 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 2.69 and a beta of 0.43. The firm’s 50 day simple moving average is $70.45 and its 200 day simple moving average is $68.75.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, October 29th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.01. Altria Group had a net margin of 34.51% and a negative return on equity of 330.66%. The business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same period in the prior year, the company earned $1.45 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts forecast that Altria Group will post 5.69 EPS for the current fiscal year.

Insider Buying and Selling

In other Altria Group news, Director Kathryn McQuade acquired 1,500 shares of the stock in a transaction on Wednesday, September 9th. The shares were bought at an average price of $67.62 per share, with a total value of $101,430.00. Following the acquisition, the director owned 114,929 shares of the company’s stock, valued at $7,771,498.98. This trade represents a 1.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.10% of the stock is currently owned by insiders.

Institutional Trading of Altria Group

Hedge funds have recently modified their holdings of the business. GQG Partners LLC purchased a new position in Altria Group in the second quarter worth $1,806,782,000. Bank of America Corp DE acquired a new stake in Altria Group in the second quarter valued at $1,104,566,000. Legal & General Group Plc purchased a new stake in shares of Altria Group during the 2nd quarter worth $631,606,000. Canada Pension Plan Investment Board purchased a new stake in shares of Altria Group during the 2nd quarter worth $349,743,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Altria Group by 3,691.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,606,561 shares of the company’s stock worth $259,492,000 after purchasing an additional 3,511,430 shares in the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

About Altria Group

Altria Group, Inc is a U.S.-based consumer products company focused primarily on tobacco, nicotine and related products. Through its operating companies, Altria sells cigarettes, cigars, pipe tobacco, oral tobacco and nicotine products, and electronic vapor products.

Altria’s principal cigarette business is Philip Morris USA, whose portfolio includes Marlboro, Parliament and Virginia Slims. Its other major brands include Copenhagen and Skoal moist smokeless tobacco, Black & Mild cigars, on! nicotine pouches and NJOY electronic cigarettes.