Barclays Forecasts Strong Price Appreciation for SBA Communications (NASDAQ:SBAC) Stock

SBA Communications (NASDAQ:SBAC) had its price target hoisted by stock analysts at Barclays from $244.00 to $247.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s price target would indicate a potential upside of 1.48% from the company’s current price.

A number of other equities analysts also recently weighed in on SBAC. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. Wells Fargo & Company lifted their target price on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. JMP Securities initiated coverage on shares of SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target on the stock. Finally, Morgan Stanley assumed coverage on SBA Communications in a research report on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 price objective for the company. Six analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $252.38.

SBA Communications Trading Up 2.1 %

Shares of SBAC stock opened at $243.40 on Tuesday. The company has a market capitalization of $26.19 billion, a price-to-earnings ratio of 38.39, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications has a 1-year low of $183.64 and a 1-year high of $252.64. The stock’s fifty day simple moving average is $220.63 and its 200-day simple moving average is $216.70.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On SBA Communications

Several large investors have recently made changes to their positions in the business. Independence Bank of Kentucky acquired a new stake in SBA Communications in the 1st quarter valued at approximately $28,000. Evermay Wealth Management LLC bought a new stake in shares of SBA Communications in the fourth quarter valued at approximately $27,000. Graney & King LLC acquired a new stake in shares of SBA Communications in the fourth quarter worth $29,000. Allworth Financial LP increased its position in SBA Communications by 62.0% during the first quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock worth $36,000 after acquiring an additional 62 shares during the period. Finally, NBC Securities Inc. raised its stake in SBA Communications by 1,575.0% during the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company’s stock valued at $44,000 after purchasing an additional 189 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

About SBA Communications

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.