SBA Communications (NASDAQ:SBAC) Given New $255.00 Price Target at Barclays

SBA Communications (NASDAQ:SBAC) had its target price decreased by research analysts at Barclays from $260.00 to $255.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s target price points to a potential upside of 29.96% from the stock’s current price.

SBAC has been the subject of several other reports. Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Thursday, March 7th. BMO Capital Markets lowered their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $268.00.

SBA Communications Stock Up 0.6 %

NASDAQ SBAC traded up $1.16 during trading hours on Wednesday, hitting $196.22. 740,500 shares of the company were exchanged, compared to its average volume of 1,000,182. The company has a 50 day moving average of $212.54 and a two-hundred day moving average of $222.69. SBA Communications has a 52-week low of $185.23 and a 52-week high of $266.77. The firm has a market cap of $21.21 billion, a price-to-earnings ratio of 42.75, a PEG ratio of 1.22 and a beta of 0.56.

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

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total transaction of $430,966.23. Following the completion of the sale, the director now directly owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by company insiders.

Institutional Trading of SBA Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBAC. Carolinas Wealth Consulting LLC raised its stake in SBA Communications by 248.0% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock valued at $30,000 after acquiring an additional 62 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new position in shares of SBA Communications during the 4th quarter worth approximately $31,000. Emerald Advisers LLC purchased a new position in shares of SBA Communications during the 3rd quarter worth approximately $31,000. Ancora Advisors LLC raised its stake in shares of SBA Communications by 88.6% during the 1st quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock worth $37,000 after buying an additional 62 shares in the last quarter. Finally, CVA Family Office LLC purchased a new position in shares of SBA Communications during the 4th quarter worth approximately $37,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

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.