SBA Communications Co. (NASDAQ:SBAC) Receives $251.29 Consensus Price Target from Brokerages

SBA Communications Co. (NASDAQ:SBAC) has been given a consensus recommendation of “Moderate Buy” by the fifteen brokerages that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $251.29.

A number of equities analysts have commented on the company. BMO Capital Markets restated a “market perform” rating and set a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Barclays reduced their price objective on SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday. TD Cowen upped their price target on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. JMP Securities began coverage on SBA Communications in a research report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target on the stock. Finally, Raymond James boosted their price objective on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th.

Insiders Place Their Bets

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the sale, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the sale, the executive vice president now owns 4,998 shares in the company, valued at $1,016,743.14. The trade was a 31.71 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

A number of large investors have recently added to or reduced their stakes in SBAC. Dodge & Cox grew its stake in shares of SBA Communications by 352.5% during the fourth quarter. Dodge & Cox now owns 7,346,255 shares of the technology company’s stock valued at $1,497,167,000 after buying an additional 5,722,740 shares during the last quarter. State Street Corp boosted its position in SBA Communications by 1.8% during the 3rd quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock valued at $1,117,697,000 after acquiring an additional 81,566 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of SBA Communications by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after purchasing an additional 605,872 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of SBA Communications by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 2,886,158 shares of the technology company’s stock valued at $586,827,000 after purchasing an additional 71,023 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of SBA Communications by 5.9% during the fourth quarter. Deutsche Bank AG now owns 2,411,920 shares of the technology company’s stock valued at $491,549,000 after purchasing an additional 134,624 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 1.4 %

Shares of NASDAQ SBAC opened at $213.00 on Friday. The business’s 50 day moving average is $202.62 and its 200-day moving average is $220.41. SBA Communications has a 1-year low of $183.64 and a 1-year high of $252.64. The firm has a market cap of $22.90 billion, a P/E ratio of 33.60, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69.

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.