American Tower Corp. (NYSE:AMT) saw a downside of -1.70% to close Tuesday at $162.91 after subtracting -$2.81 on the day. The 5-day average trading volume is 2,700,420 shares of the company’s common stock. It has gained $179.71 in the past week and touched a new high 1 time within the past 5 days. An average of 2,033,885 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,109,752.
AMT’s 1-month performance is -8.24% or -$14.62 on its low of $162.65 reached on 09/26/23. The company’s shares have touched a 52-week low of $163.08 and high of $235.57, with the stock’s rally to the 52-week high happening on 01/17/23. YTD, AMT has lost -23.10% or -$48.95 and has reached a new high 7 times. However, the current price is down -30.84% from the 52-week high price.
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Insider Transactions
AMT stock investors last saw insider trading activity on Aug 17.Smith Rodney M (EVP, CFO & Treasurer) most recently sold 10,000 shares at $178.14 per share on Aug 17. This transaction cost the insider $1,781,368. Director, HORMATS ROBERT D, sold 125 shares at a price of $185.34 on Aug 15. Then, on Aug 10, EVP, CFO & Treasurer Smith Rodney M sold 2,727 shares at a price of $187.17 per share. This transaction amounted to $510,413.
Valuation Metrics
AMT stock has a beta of 0.59. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 6.96 while the price-to-book (PB) in the most recent quarter is 14.70, with the price to cash flow ratio at 31.68.
As well, the company’s long term debt to equity for the quarter ending June 29 was 8.36, while the total debt to equity was 9.13.. In terms of profitability, the gross margin trailing 12 months is 40.03%. The firm’s gross profit as reported stood at $2.35 billion against revenue of $10.71 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -88.82% to $475.7 million, while revenue of $335.8 million was 29.41% off the previous quarter. Analysts expected AMT to announce $1.1 per share in earnings in its latest quarter, but it posted $1.02, representing a -7.30% surprise. EBITDA for the quarter stood at more than $1.64 billion. Shareholders hold equity totaling $466.16 million.
Let’s look briefly at American Tower Corp. (AMT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 26 September was 17.76% to suggest the stock is trending oversold, with historical volatility in this time period at 26.88%.
The stock’s 5-day moving average is $168.31, reflecting a -8.15% or -$14.45 change from its current price. AMT is currently trading -8.56% above its 20-day SMA, -15.14% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -12.54% and SMA200 by-22.83%.
Stochastic %K and %D was 5.29% and 6.58% and the average true range (ATR) pointed at 3.87. The RSI (14) points at 24.45%, while the 14-day stochastic is at 1.25% with the period’s ATR at 3.91. The stock’s 9-day MACD Oscillator is pointing at -8.35 and -10.73 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for American Tower Corp. (NYSE: AMT), BMO Capital Markets launched coverage with an Outperform rating. Analysts offering their rating for AMT stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate AMT as a “sell,”, while 3 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 4 rates the stock as overweight while 13 have offered a “buy” rating.
What is AMT’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $205.00 and a high of $271.00, with their median price target at $229.00. Looking at these predictions, the average price target given by analysts is for American Tower Corp. (AMT) stock is $230.87.
