Crown Castle International Corp (CCI): Today's Featured Technology Winner

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

Crown Castle International ( CCI) pushed the Technology sector higher today making it today's featured technology winner. The sector as a whole closed the day down 0.8%. By the end of trading, Crown Castle International rose 66 cents (1%) to $64.73 on average volume. Throughout the day, 1.8 million shares of Crown Castle International exchanged hands as compared to its average daily volume of 1.7 million shares. The stock ranged in a price between $64.08-$64.83 after having opened the day at $64.12 as compared to the previous trading day's close of $64.07. Other companies within the Technology sector that increased today were: Bridgeline Digital ( BLIN), up 15.2%, Zoom Technologies ( ZOOM), up 12.4%, Nexxus Lighting ( NEXS), up 10.2%, and Top Image Systems ( TISA), up 7%.
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Crown Castle International Corp., together with is subsidiaries, owns, operates, and leases shared wireless infrastructure primarily in the United States, Puerto Rico, and Australia. Crown Castle International has a market cap of $19.17 billion and is part of the telecommunications industry. The company has a P/E ratio of 74.3, equal to the average telecommunications industry P/E ratio and above the S&P 500 P/E ratio of 17.7. Shares are up 43% year to date as of the close of trading on Tuesday. Currently there are 12 analysts that rate Crown Castle International a buy, no analysts rate it a sell, and five rate it a hold.

TheStreet Ratings rates Crown Castle International as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value.

On the negative front, OCZ Technology Group ( OCZ), down 40.3%, BOS Better Online Solutions ( BOSC), down 24%, Kingtone Wirelessinfo Solution ( KONE), down 17.6%, and Dataram Corporation ( DRAM), down 13.3%, were all laggards within the technology sector with NetApp ( NTAP) being today's technology sector laggard.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).

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