Pacific Crest Increases American Tower Corp Price Target to $108.00 (AMT)
Stock analysts at Pacific Crest upped their price target on shares of American Tower Corp (NYSE:AMT) from $93.00 to $108.00 in a report issued on Thursday. The firm currently has an “outperform” rating on the stock. Pacific Crest’s price target would suggest a potential upside of 14.47% from the stock’s previous close.
In other American Tower Corp news, CFO Thomas A. Bartlett sold 16,666 shares of American Tower Corp stock on the open market in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $95.00, for a total value of $1,583,270.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of other analysts have also recently weighed in on AMT. Analysts at Nomura raised their price target on shares of American Tower Corp from $90.00 to $100.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of American Tower Corp from $100.00 to $108.00 in a research note on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of American Tower Corp in a research note on Monday, July 21st. They now have a $105.00 price target on the stock, up previously from $93.00. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $102.13.
Shares of American Tower Corp (NYSE:AMT) traded down 0.04% on Thursday, hitting $94.35. The stock had a trading volume of 1,720,376 shares. American Tower Corp has a 52 week low of $67.89 and a 52 week high of $97.56. The stock’s 50-day moving average is $90.89 and its 200-day moving average is $85.51. The company has a market cap of $37.363 billion and a price-to-earnings ratio of 53.03.
American Tower Corp (NYSE:AMT) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.58 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.54 by $0.04. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $999.15 million. During the same quarter last year, the company posted $0.25 earnings per share. American Tower Corp’s revenue was up 27.5% compared to the same quarter last year. Analysts expect that American Tower Corp will post $2.25 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.
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