Raymond James Reaffirms Their Buy Rating on American Tower (AMT)

In a report released today, Ric Prentiss from Raymond James maintained a Buy rating on American Tower (AMT). The company’s shares closed last Thursday at $239.92.

According to TipRanks.com, Prentiss is a 1-star analyst with an average return of -1.4% and a 62.4% success rate. Prentiss covers the Technology sector, focusing on stocks such as Shenandoah Telecommunications Co, United States Cellular, and Iridium Communications.

American Tower has an analyst consensus of Strong Buy, with a price target consensus of $288.29, implying a 20.0% upside from current levels. In a report issued on October 21, Barclays also maintained a Buy rating on the stock with a $290.00 price target.

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Based on American Tower’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.01 billion and net profit of $464 million. In comparison, last year the company earned revenue of $1.95 billion and had a net profit of $499 million.

Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AMT in relation to earlier this year.

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.

American Tower Corp. is a real estate investment trust, which owns, operates, and develops multitenant communications real estate. It operates through the following segments: U.S. Property, Asia Property, Europe Property, Africa Property, Latin America Property and Services. The U.S. Property segment operates in the United States. The Asia Property segment refers to the operations in India. The Services segment offers tower-related services in the United States, including site acquisition, zoning & permitting services and structural analysis services. The company was founded in 1995 and is headquartered in Boston, MA.

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