SBA Communications (NASDAQ:SBAC) Receives “Outperform” Rating from Royal Bank of Canada

SBA Communications (NASDAQ:SBAC)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research note issued to investors on Monday,Benzinga reports. They presently have a $255.00 price objective on the technology company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 16.35% from the stock’s previous close.

A number of other equities analysts also recently commented on SBAC. JMP Securities began coverage on SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 target price for the company. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Barclays decreased their target price on SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, BMO Capital Markets restated a “market perform” rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and an average price target of $252.00.

SBA Communications Stock Performance

Shares of SBAC stock opened at $219.17 on Monday. SBA Communications has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The stock has a 50 day moving average price of $202.83 and a two-hundred day moving average price of $220.43. The company has a market capitalization of $23.57 billion, a P/E ratio of 34.57, a PEG ratio of 0.74 and a beta of 0.69.

Insider Buying and Selling

In other news, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Donald Day sold 2,321 shares of the stock in a transaction on Friday, December 20th. The stock was 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 directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. This 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 insiders.

Institutional Investors Weigh In On SBA Communications

Institutional investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new stake in shares of SBA Communications during the third quarter valued at $26,000. Evermay Wealth Management LLC purchased a new stake in shares of SBA Communications during the fourth quarter valued at $27,000. Graney & King LLC purchased a new stake in shares of SBA Communications during the fourth quarter valued at $29,000. Capital Performance Advisors LLP purchased a new stake in shares of SBA Communications during the third quarter valued at $35,000. Finally, Oakworth Capital Inc. boosted its position in shares of SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after buying an additional 144 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

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.