SBA Communications (NASDAQ:SBAC) PT Raised to $280.00 at KeyCorp

SBA Communications (NASDAQ:SBAC) had its target price upped by stock analysts at KeyCorp from $230.00 to $280.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. KeyCorp’s price objective would suggest a potential upside of 12.31% from the stock’s previous close.

A number of other brokerages have also recently issued reports on SBAC. Deutsche Bank Aktiengesellschaft boosted their target price on shares of SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. The Goldman Sachs Group increased their price objective on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Barclays lifted their target price on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. TD Cowen lowered their price target on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Finally, StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $251.58.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $249.31 on Monday. The business’s fifty day moving average price is $232.25 and its 200-day moving average price is $211.79. SBA Communications has a one year low of $183.64 and a one year high of $258.76. The stock has a market capitalization of $26.79 billion, a PE ratio of 48.88, a P/E/G ratio of 0.70 and a beta of 0.67.

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

Insiders Place Their Bets

In other SBA Communications news, 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 transaction of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Donald Day sold 1,500 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction 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 approximately $1,213,814.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the chairman now directly owns 109,583 shares in the company, valued at approximately $24,328,521.83. The trade was a 0.00 % decrease in their ownership of the stock. 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 corporate insiders.

Institutional Trading of SBA Communications

Institutional investors have recently modified their holdings of the company. Ridgewood Investments LLC bought a new stake in SBA Communications in the second quarter valued at $32,000. Family Firm Inc. purchased a new stake in SBA Communications in the second quarter worth $36,000. Quarry LP grew its stake in SBA Communications by 400.0% in the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after purchasing an additional 132 shares during the period. Global X Japan Co. Ltd. bought a new position in SBA Communications in the second quarter worth $49,000. Finally, Versant Capital Management Inc lifted its position in SBA Communications by 4,500.0% during the second quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock valued at $54,000 after buying an additional 270 shares during the period. 97.35% of the stock is currently 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.