SBA Communications (NASDAQ:SBAC) Raised to Buy at StockNews.com

SBA Communications (NASDAQ:SBAC) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Other research analysts have also recently issued research reports about the company. JMP Securities started coverage on SBA Communications in a research note on Monday, January 27th. They set an “outperform” rating and a $250.00 target price on the stock. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Barclays lifted their target price on SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th. Finally, Wells Fargo & Company lifted their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $252.85.

SBA Communications Trading Up 0.2 %

Shares of NASDAQ:SBAC opened at $214.70 on Tuesday. SBA Communications has a 12 month low of $183.64 and a 12 month high of $252.64. The company has a market capitalization of $23.10 billion, a price-to-earnings ratio of 33.86, a PEG ratio of 0.74 and a beta of 0.74. The firm’s 50-day moving average is $210.80 and its 200 day moving average is $219.70.

Insider Buying and Selling

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the sale, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of SBA Communications

A number of institutional investors have recently made changes to their positions in SBAC. Exchange Traded Concepts LLC boosted its holdings in SBA Communications by 15.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock worth $78,000 after acquiring an additional 50 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of SBA Communications by 17.3% during the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after purchasing an additional 53 shares during the period. Auxano Advisors LLC boosted its position in SBA Communications by 2.3% in the fourth quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock valued at $495,000 after buying an additional 54 shares during the last quarter. DoubleLine ETF Adviser LP raised its position in SBA Communications by 0.7% during the 4th quarter. DoubleLine ETF Adviser LP now owns 7,738 shares of the technology company’s stock worth $1,577,000 after buying an additional 57 shares during the last quarter. Finally, Lake Street Advisors Group LLC lifted its stake in SBA Communications by 5.8% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company’s stock valued at $225,000 after acquiring an additional 61 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Company Profile

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.