SBA Communications (NASDAQ:SBAC) PT Lowered to $255.00

SBA Communications (NASDAQ:SBAC) had its price target decreased by investment analysts at Barclays from $260.00 to $255.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s price target suggests a potential upside of 30.14% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research report on Thursday, March 7th. BMO Capital Markets reduced their price target on shares of 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, SBA Communications presently has an average rating of “Buy” and a consensus price target of $268.00.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $195.95 on Wednesday. SBA Communications has a fifty-two week low of $185.23 and a fifty-two week high of $266.77. The company has a 50 day simple moving average of $211.72 and a two-hundred day simple moving average of $222.32. The company has a market capitalization of $21.18 billion, a price-to-earnings ratio of 42.51, a P/E/G ratio of 1.19 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The business had revenue of $675.00 million for the quarter, compared to the consensus estimate of $682.11 million. During the same period in the prior year, the business posted $3.11 EPS. SBA Communications’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts forecast that SBA Communications will post 12.6 earnings per share for the current fiscal year.

Insider Transactions at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the transaction, the director now owns 4,622 shares in the company, valued at approximately $1,007,549.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Cullinan Associates Inc. purchased a new position in shares of SBA Communications during the 1st quarter worth $217,000. First Bank & Trust boosted its stake in shares of SBA Communications by 3.6% during the 1st quarter. First Bank & Trust now owns 6,967 shares of the technology company’s stock worth $1,510,000 after acquiring an additional 240 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of SBA Communications by 6.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,722 shares of the technology company’s stock valued at $807,000 after buying an additional 237 shares in the last quarter. Sunbelt Securities Inc. lifted its stake in shares of SBA Communications by 20.8% during the 1st quarter. Sunbelt Securities Inc. now owns 441 shares of the technology company’s stock valued at $96,000 after buying an additional 76 shares in the last quarter. Finally, Gateway Investment Advisers LLC lifted its stake in shares of SBA Communications by 67.8% during the 1st quarter. Gateway Investment Advisers LLC now owns 4,223 shares of the technology company’s stock valued at $915,000 after buying an additional 1,706 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

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.