SBA Communications (NASDAQ:SBAC) Given New $280.00 Price Target at KeyCorp

SBA Communications (NASDAQ:SBAC) had its price target raised by analysts at KeyCorp from $230.00 to $280.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. KeyCorp’s price target would suggest a potential upside of 19.91% from the stock’s current price.

Several other brokerages have also recently weighed in on SBAC. TD Cowen decreased their price objective on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Royal Bank of Canada increased their price target on SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. The Goldman Sachs Group raised their price target on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Barclays boosted their price objective on SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Wells Fargo & Company raised their target price on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $251.58.

SBA Communications Stock Up 0.1 %

NASDAQ SBAC opened at $233.51 on Monday. SBA Communications has a twelve month low of $183.64 and a twelve month high of $258.76. The stock has a market cap of $25.10 billion, a P/E ratio of 49.26, a PEG ratio of 0.70 and a beta of 0.67. The company’s 50-day simple moving average is $231.29 and its 200 day simple moving average is $211.39.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The company had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. During the same period in the prior year, the firm earned $3.24 EPS. SBA Communications’s quarterly revenue was down 2.7% compared to the same quarter last year. Research analysts anticipate that SBA Communications will post 12.52 earnings per share for the current year.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the completion of the sale, the chairman now owns 109,583 shares in the company, valued at approximately $24,328,521.83. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the completion of the sale, the chairman now directly owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,590 shares of company stock valued at $11,483,981. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of SBA Communications by 10.7% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company’s stock worth $127,000 after purchasing an additional 51 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in SBA Communications by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock valued at $1,819,000 after acquiring an additional 53 shares during the period. Ballentine Partners LLC increased its holdings in shares of SBA Communications by 2.7% in the first quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock worth $448,000 after acquiring an additional 55 shares in the last quarter. Checchi Capital Advisers LLC raised its position in shares of SBA Communications by 4.1% during the second quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock worth $286,000 after purchasing an additional 57 shares during the period. Finally, Industrial Alliance Investment Management Inc. lifted its holdings in shares of SBA Communications by 3.9% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock valued at $338,000 after purchasing an additional 58 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.