Insider Selling: William H. Hess Sells 80,000 Shares of American Tower Corp Stock (AMT)
American Tower Corp (NYSE:AMT) EVP William H. Hess unloaded 80,000 shares of the company’s stock on the open market in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $90.45, for a total transaction of $7,236,000.00. Following the transaction, the executive vice president now directly owns 47,445 shares in the company, valued at approximately $4,291,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
AMT has been the subject of a number of recent research reports. Analysts at Credit Suisse initiated coverage on shares of American Tower Corp in a research note on Friday, June 13th. They set an “outperform” rating and a $101.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of American Tower Corp in a research note on Wednesday, May 28th. They now have a $93.00 price target on the stock. Finally, analysts at RBC Capital raised their price target on shares of American Tower Corp from $102.00 to $105.00 in a research note on Monday, May 5th. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $96.14.
American Tower Corp (NYSE:AMT) traded up 0.25% on Friday, hitting $91.64. 1,066,214 shares of the company’s stock traded hands. American Tower Corp has a 52 week low of $67.89 and a 52 week high of $91.62. The stock’s 50-day moving average is $89.26 and its 200-day moving average is $84.14. The company has a market cap of $36.266 billion and a price-to-earnings ratio of 62.61.
American Tower Corp (NYSE:AMT) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.51 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.50 by $0.01. The company had revenue of $984.10 million for the quarter, compared to the consensus estimate of $968.18 million. During the same quarter last year, the company posted $0.43 earnings per share. American Tower Corp’s revenue was up 22.6% compared to the same quarter last year. Analysts expect that American Tower Corp will post $2.20 EPS for the current fiscal year.
American Tower Corporation is a holding company. The Company conducts its operations through its directly and indirectly owned subsidiaries and joint ventures.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.