Analysts Set SBA Communications Co. (NASDAQ:SBAC) PT at $252.46

Shares of SBA Communications Co. (NASDAQ:SBAC) have received an average recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $252.29.

SBAC has been the topic of several recent research reports. BMO Capital Markets restated a “market perform” rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. TD Cowen boosted their target price on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Barclays cut their price objective on SBA Communications from $257.00 to $254.00 and set an “overweight” rating for the company in a report on Monday, January 13th.

SBA Communications Stock Performance

NASDAQ SBAC opened at $197.56 on Monday. The company has a market capitalization of $21.24 billion, a PE ratio of 31.16, a price-to-earnings-growth ratio of 0.70 and a beta of 0.69. The company has a 50-day simple moving average of $207.46 and a 200 day simple moving average of $221.39. SBA Communications has a 52-week low of $183.64 and a 52-week high of $252.64.

Insiders Place Their Bets

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the company’s 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 $7,534,796.04. This represents a 9.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Institutional Trading of SBA Communications

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ashton Thomas Securities LLC purchased a new position in SBA Communications in the third quarter worth about $26,000. Evermay Wealth Management LLC bought a new position in SBA Communications in the 4th quarter valued at approximately $27,000. Capital Performance Advisors LLP purchased a new stake in SBA Communications during the 3rd quarter valued at $35,000. Oakworth Capital Inc. increased its holdings in shares of SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after purchasing an additional 144 shares in the last quarter. Finally, Friedenthal Financial purchased a new position in shares of SBA Communications in the third quarter worth $50,000. Hedge funds and other institutional investors 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.