SBA Communications Co. (NASDAQ:SBAC) Given Average Recommendation of “Moderate Buy” by Analysts

SBA Communications Co. (NASDAQ:SBAC) has received an average recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $252.29.

A number of equities research analysts have recently weighed in on the company. JMP Securities began coverage on SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price for the company. KeyCorp upped their price target on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Raymond James raised their price target on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Finally, StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd.

SBA Communications Stock Down 0.8 %

NASDAQ SBAC opened at $197.56 on Monday. The company has a market capitalization of $21.24 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 0.70 and a beta of 0.69. SBA Communications has a twelve month low of $183.64 and a twelve month high of $252.64. The stock’s 50-day simple moving average is $207.92 and its two-hundred day simple moving average is $221.42.

Insiders Place Their Bets

In related news, 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 transaction, the executive vice president now owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were 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 approximately $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

Hedge funds have recently modified their holdings of the business. Public Sector Pension Investment Board boosted its position in shares of SBA Communications by 17.2% in the second quarter. Public Sector Pension Investment Board now owns 14,912 shares of the technology company’s stock worth $2,927,000 after purchasing an additional 2,186 shares during the period. Squarepoint Ops LLC raised its position in shares of SBA Communications by 238.2% during the second quarter. Squarepoint Ops LLC now owns 10,875 shares of the technology company’s stock valued at $2,135,000 after buying an additional 7,659 shares during the last quarter. MBB Public Markets I LLC purchased a new stake in shares of SBA Communications in the second quarter worth about $1,702,000. The Manufacturers Life Insurance Company boosted its position in shares of SBA Communications by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 85,515 shares of the technology company’s stock valued at $16,787,000 after acquiring an additional 2,999 shares during the last quarter. Finally, Clear Rock Advisors LLC increased its holdings in shares of SBA Communications by 13.8% in the 2nd quarter. Clear Rock Advisors LLC now owns 9,043 shares of the technology company’s stock worth $1,775,000 after buying an additional 1,099 shares during the last quarter. 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.