Crown Castle (NYSE:CCI) Stock Rating Upgraded by Zacks Research

Crown Castle (NYSE:CCI) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Several other analysts have also recently issued reports on the company. BMO Capital Markets dropped their target price on Crown Castle from $97.00 to $91.00 and set an “outperform” rating on the stock in a research report on Thursday, February 5th. Wolfe Research downgraded Crown Castle from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Royal Bank Of Canada cut their target price on Crown Castle from $112.00 to $110.00 and set an “outperform” rating on the stock in a research note on Monday, January 12th. The Goldman Sachs Group decreased their price target on shares of Crown Castle from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Finally, Sanford C. Bernstein assumed coverage on shares of Crown Castle in a research report on Thursday. They issued an “outperform” rating and a $102.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Crown Castle currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.13.

Crown Castle Stock Performance

Shares of CCI opened at $90.07 on Wednesday. The company has a 50 day moving average price of $87.29 and a 200-day moving average price of $91.53. Crown Castle has a fifty-two week low of $77.01 and a fifty-two week high of $115.76. The stock has a market capitalization of $39.28 billion, a PE ratio of 89.18, a PEG ratio of 0.46 and a beta of 0.96.

Insider Activity at Crown Castle

In other Crown Castle news, EVP Edward B. Adams, Jr. sold 4,650 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $86.34, for a total transaction of $401,481.00. Following the transaction, the executive vice president owned 25,183 shares in the company, valued at approximately $2,174,300.22. This represents a 15.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Robert Sean Collins sold 3,000 shares of Crown Castle stock in a transaction on Friday, February 27th. The stock was sold at an average price of $87.49, for a total transaction of $262,470.00. Following the sale, the vice president owned 5,800 shares of the company’s stock, valued at $507,442. The trade was a 34.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Crown Castle

Several hedge funds have recently made changes to their positions in the company. Bayban acquired a new stake in Crown Castle during the 4th quarter worth about $44,000. SHP Wealth Management acquired a new position in shares of Crown Castle in the fourth quarter valued at about $210,000. Reflection Asset Management purchased a new position in shares of Crown Castle in the fourth quarter worth about $37,000. MV Capital Management Inc. acquired a new stake in shares of Crown Castle during the fourth quarter worth about $34,000. Finally, Kovitz Investment Group Partners LLC boosted its position in Crown Castle by 5.7% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 47,585 shares of the real estate investment trust’s stock valued at $4,229,000 after buying an additional 2,576 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Company Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.