Crown Castle Gets a Buy from RBC Capital

By Jason Carr

In a report released yesterday, Jonathan Atkin from RBC Capital reiterated a Buy rating on Crown Castle (NYSE: CCI), with a price target of $107. The company’s shares closed yesterday at $96.79.

According to TipRanks.com, Atkin is a top 25 analyst with an average return of 15.4% and a 87.2% success rate. Atkin covers the Technology sector, focusing on stocks such as Frontier Communications Corporation, Interxion Holding NV, and Zayo Group Holdings.

Currently, the analyst consensus on Crown Castle is Strong Buy and the average price target is $104.40, representing a 7.9% upside.

In a report issued on April 11, Guggenheim also upgraded the stock to Buy with a $101 price target.

Based on Crown Castle’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $1.03 billion and quarterly net profit of $125 million. In comparison, last year the company earned revenue of $934 million and had a net profit of $47.84 million.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is neutral on the stock. Last month, Robert E. Garrison, a Director at CCI sold 2,413 shares for a total of $218,738.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Crown Castle International Corp. operates as a Real Estate Investment Trust (REIT), which engages in the provision of shared wireless infrastructure solutions. The company was founded by Ted B. Miller Jr. and Edward C. Hutcheson Jr. in 1994 and is headquartered in Houston, TX.