SBA Communications (NASDAQ:SBAC) Rating Lowered to Hold at StockNews.com

SBA Communications (NASDAQ:SBAC) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

Several other research analysts have also recently issued reports on SBAC. Wells Fargo & Company upped their target price on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Barclays upped their price objective on shares of SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Morgan Stanley started coverage on SBA Communications in a research report on Tuesday, April 1st. They issued an “equal weight” rating and a $240.00 target price for the company. Finally, JMP Securities started coverage on SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and a consensus price target of $251.92.

SBA Communications Stock Up 1.5 %

SBAC stock opened at $229.06 on Friday. The stock has a market cap of $24.65 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 0.74 and a beta of 0.83. SBA Communications has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The business has a 50 day moving average price of $216.91 and a 200 day moving average price of $217.24.

Insider Buying and Selling at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the transaction, the vice president now directly owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SBAC. Evermay Wealth Management LLC purchased a new position in shares of SBA Communications in the 4th quarter valued at about $27,000. Independence Bank of Kentucky acquired a new stake in shares of SBA Communications during the 1st quarter valued at approximately $28,000. Graney & King LLC purchased a new stake in shares of SBA Communications during the 4th quarter worth approximately $29,000. NBC Securities Inc. grew its holdings in shares of SBA Communications by 1,575.0% in the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company’s stock worth $44,000 after acquiring an additional 189 shares during the period. Finally, Oakworth Capital Inc. increased its stake in SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after purchasing an additional 144 shares in 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.