SBA Communications (NASDAQ:SBAC) PT Raised to $256.00 at Barclays

SBA Communications (NASDAQ:SBAC) had its target price hoisted by investment analysts at Barclays from $236.00 to $256.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s price target indicates a potential upside of 9.63% from the company’s previous close.

Several other equities research analysts have also recently commented on SBAC. Royal Bank of Canada boosted their target price on SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. raised their target price on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Morgan Stanley boosted their price target on shares of SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Finally, BMO Capital Markets cut their price target on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.42.

SBA Communications Trading Up 0.1 %

Shares of NASDAQ:SBAC opened at $233.51 on Thursday. The firm’s 50 day moving average is $231.22 and its two-hundred day moving average is $211.35. The firm has a market capitalization of $25.09 billion, a P/E ratio of 45.79, a PEG ratio of 0.71 and a beta of 0.67. SBA Communications has a 52 week low of $183.64 and a 52 week high of $258.76.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The business had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. During the same quarter in the prior year, the business earned $3.24 earnings per share. The firm’s revenue was down 2.7% compared to the same quarter last year. Analysts predict that SBA Communications will post 12.52 EPS for the current year.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other SBA Communications news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Jeffrey Stoops sold 49,765 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $222.01, for a total value of $11,048,327.65. Following the completion of the transaction, the chairman now owns 109,583 shares in the company, valued at $24,328,521.83. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,590 shares of company stock worth $11,483,981. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SBA Communications

A number of institutional investors have recently modified their holdings of SBAC. Creative Planning raised its holdings in shares of SBA Communications by 25.9% during the third quarter. Creative Planning now owns 8,985 shares of the technology company’s stock worth $2,163,000 after acquiring an additional 1,850 shares in the last quarter. Procyon Advisors LLC increased its position in SBA Communications by 8.9% in the 3rd quarter. Procyon Advisors LLC now owns 4,036 shares of the technology company’s stock worth $971,000 after purchasing an additional 329 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in SBA Communications by 10.7% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company’s stock worth $127,000 after purchasing an additional 51 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of SBA Communications during the 3rd quarter worth about $80,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of SBA Communications by 278.7% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 852 shares of the technology company’s stock valued at $205,000 after buying an additional 627 shares during the last quarter. 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.