SBA Communications (NASDAQ:SBAC) Price Target Cut to $241.00

SBA Communications (NASDAQ:SBAC) had its price target lowered by analysts at Barclays from $255.00 to $241.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective would indicate a potential upside of 27.43% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. KeyCorp lowered their price target on shares of SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a report on Tuesday. BMO Capital Markets lowered their price target 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. Finally, Bank of America upgraded shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a report on Thursday, March 7th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $258.23.

SBA Communications Trading Up 1.6 %

Shares of SBAC opened at $189.12 on Tuesday. The stock has a market cap of $20.45 billion, a P/E ratio of 37.08, a PEG ratio of 1.24 and a beta of 0.56. The company has a 50-day moving average of $209.12 and a two-hundred day moving average of $222.52. SBA Communications has a 12-month low of $183.64 and a 12-month high of $258.76.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. The business had revenue of $657.86 million during the quarter, compared to the consensus estimate of $671.08 million. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.79%. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.13 earnings per share. As a group, analysts forecast that SBA Communications will post 12.61 EPS for the current fiscal year.

Insider Transactions at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the completion of the sale, the director now owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

Large investors have recently made changes to their positions in the business. Emerald Advisers LLC acquired a new stake in shares of SBA Communications in the third quarter worth $31,000. CVA Family Office LLC purchased a new position in shares of SBA Communications in the fourth quarter valued at $37,000. Glassman Wealth Services boosted its stake in shares of SBA Communications by 79.1% in the fourth 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 period. Pinnacle Bancorp Inc. boosted its stake in shares of SBA Communications by 73.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after purchasing an additional 67 shares during the period. Finally, Allworth Financial LP boosted its stake in shares of SBA Communications by 37.8% in the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after purchasing an additional 45 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.