Citizens Jmp upgraded shares of SBA Communications (NASDAQ:SBAC – Free Report) to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.
Several other research firms have also weighed in on SBAC. TD Cowen lifted their price objective on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Raymond James boosted their price target on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. KeyCorp boosted their price target on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. BMO Capital Markets reissued a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Finally, Barclays reduced their price target on SBA Communications from $257.00 to $254.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $252.29.
View Our Latest Research Report on SBA Communications
SBA Communications Price Performance
SBA Communications (NASDAQ:SBAC – Get Free Report) last released its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.77). The firm had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.34 earnings per share. On average, equities research analysts expect that SBA Communications will post 12.57 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC acquired a new position in SBA Communications during the 3rd quarter valued at approximately $26,000. Evermay Wealth Management LLC acquired a new position in SBA Communications during the 4th quarter valued at approximately $27,000. Capital Performance Advisors LLP acquired a new position in SBA Communications during the 3rd quarter valued at approximately $35,000. Oakworth Capital Inc. boosted its position in SBA Communications by 161.8% during the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after purchasing an additional 144 shares during the period. Finally, Friedenthal Financial acquired a new position in SBA Communications during the 3rd quarter valued at approximately $50,000. Institutional investors and hedge funds own 97.35% of the company’s stock.
About SBA Communications
SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.
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