Analysts Set SBA Communications Co. (NASDAQ:SBAC) PT at $252.46

Shares of SBA Communications Co. (NASDAQ:SBAC) have been given an average recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $252.29.

SBAC has been the subject of a number of recent research reports. TD Cowen boosted their price objective on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Barclays decreased their price objective on shares of SBA Communications from $257.00 to $254.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company dropped their target price on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th.

Insider Transactions at SBA Communications

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

Institutional Investors Weigh In On SBA Communications

Several institutional investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in SBA Communications in the third quarter worth about $26,000. Evermay Wealth Management LLC bought a new stake in shares of SBA Communications during the 4th quarter worth approximately $27,000. Capital Performance Advisors LLP purchased a new position in SBA Communications during the 3rd quarter valued at $35,000. Oakworth Capital Inc. grew its position 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 acquiring an additional 144 shares during the last quarter. Finally, Friedenthal Financial purchased a new stake in SBA Communications in the third quarter worth $50,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

NASDAQ SBAC opened at $197.56 on Monday. The business’s fifty day moving average is $207.46 and its 200 day moving average is $221.39. The company has a market capitalization of $21.24 billion, a PE ratio of 31.16, a price-to-earnings-growth ratio of 0.70 and a beta of 0.69. SBA Communications has a fifty-two week low of $183.64 and a fifty-two week high of $252.64.

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.