Barclays Cuts SBA Communications (NASDAQ:SBAC) Price Target to $255.00

SBA Communications (NASDAQ:SBAC) had its price target dropped by equities research analysts at Barclays from $260.00 to $255.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s price target would indicate a potential upside of 30.14% from the company’s current price.

A number of other research firms have also recently weighed in on SBAC. BMO Capital Markets cut their price objective on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, February 27th. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a report on Thursday, March 7th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, SBA Communications currently has a consensus rating of “Buy” and a consensus price target of $268.00.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $195.95 on Wednesday. The firm has a fifty day moving average price of $211.72 and a 200 day moving average price of $222.32. SBA Communications has a 1 year low of $185.23 and a 1 year high of $266.77. The stock has a market cap of $21.18 billion, a PE ratio of 42.51, a price-to-earnings-growth ratio of 1.19 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.36). SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The business had revenue of $675.00 million for the quarter, compared to analysts’ expectations of $682.11 million. During the same period last year, the business earned $3.11 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, equities analysts expect that SBA Communications will post 12.6 EPS for the current year.

Insider Buying and Selling

In related news, Director Mary S. Chan sold 1,977 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the transaction, the director now directly owns 4,622 shares in the company, valued at $1,007,549.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SBA Communications

Institutional investors and hedge funds have recently bought and sold shares of the business. Carolinas Wealth Consulting LLC boosted its holdings in SBA Communications by 248.0% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock valued at $30,000 after purchasing an additional 62 shares during the last quarter. Resurgent Financial Advisors LLC acquired a new position in SBA Communications in the 4th quarter valued at about $31,000. Ancora Advisors LLC boosted its holdings in SBA Communications by 88.6% in the 1st quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock valued at $37,000 after purchasing an additional 62 shares during the last quarter. CVA Family Office LLC acquired a new position in SBA Communications in the 4th quarter valued at about $37,000. Finally, Glassman Wealth Services boosted its holdings in SBA Communications by 79.1% in the 4th quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock valued at $39,000 after purchasing an additional 68 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

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.