UBS Group Increases Crown Castle (NYSE:CCI) Price Target to $127.00

Crown Castle (NYSE:CCI) had its target price hoisted by analysts at UBS Group from $124.00 to $127.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. UBS Group’s price target would indicate a potential upside of 13.80% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. New Street Research raised Crown Castle from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 1st. Bank of America began coverage on shares of Crown Castle in a research report on Monday, May 19th. They issued a “buy” rating and a $115.00 target price for the company. BMO Capital Markets boosted their target price on shares of Crown Castle from $108.00 to $115.00 and gave the stock a “market perform” rating in a research report on Thursday. Wall Street Zen cut shares of Crown Castle from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $124.00 price objective (up from $122.00) on shares of Crown Castle in a report on Thursday. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Crown Castle presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.94.

Crown Castle Price Performance

NYSE:CCI opened at $111.60 on Friday. Crown Castle has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The stock’s 50-day moving average is $102.19 and its two-hundred day moving average is $98.56. The stock has a market cap of $48.60 billion, a PE ratio of -10.46, a price-to-earnings-growth ratio of 0.86 and a beta of 0.88.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.02. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company posted $1.62 earnings per share. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that Crown Castle will post 6.67 earnings per share for the current year.

Insider Activity at Crown Castle

In other Crown Castle news, VP Robert Sean Collins sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $106.72, for a total value of $384,192.00. Following the completion of the sale, the vice president owned 6,465 shares in the company, valued at approximately $689,944.80. This trade represents a 35.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edward B. Adams, Jr. sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $106.37, for a total value of $850,960.00. Following the completion of the sale, the executive vice president owned 20,528 shares of the company’s stock, valued at $2,183,563.36. This represents a 28.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,600 shares of company stock worth $3,362,752. Company insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in shares of Crown Castle during the 1st quarter worth about $26,000. Iron Horse Wealth Management LLC bought a new position in shares of Crown Castle during the 1st quarter worth about $26,000. Centerpoint Advisors LLC bought a new position in Crown Castle during the first quarter worth about $26,000. Stone House Investment Management LLC bought a new position in Crown Castle during the first quarter worth about $27,000. Finally, Rise Advisors LLC bought a new position in Crown Castle during the first quarter worth about $28,000. 90.77% of the stock is owned by institutional investors.

About Crown Castle

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.