Barclays Issues Positive Forecast for SBA Communications (NASDAQ:SBAC) Stock Price

SBA Communications (NASDAQ:SBAC) had its price objective raised by stock analysts at Barclays from $240.00 to $244.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective would suggest a potential upside of 10.09% from the company’s previous close.

Several other analysts have also weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. Wells Fargo & Company raised their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. JMP Securities assumed coverage on shares of SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $252.85.

SBA Communications Trading Up 0.3 %

NASDAQ SBAC opened at $221.64 on Friday. The firm has a market cap of $23.85 billion, a price-to-earnings ratio of 34.96, a PEG ratio of 0.74 and a beta of 0.74. The company has a 50 day moving average of $209.59 and a 200-day moving average of $220.10. SBA Communications has a 1-year low of $183.64 and a 1-year high of $252.64.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

Several hedge funds have recently bought and sold shares of SBAC. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in SBA Communications in the third quarter worth $1,418,000. PNC Financial Services Group Inc. raised its holdings in SBA Communications by 11.3% in the third quarter. PNC Financial Services Group Inc. now owns 17,742 shares of the technology company’s stock worth $4,270,000 after purchasing an additional 1,799 shares during the period. Jennison Associates LLC acquired a new stake in SBA Communications in the third quarter worth $1,693,000. Citizens Financial Group Inc. RI acquired a new stake in SBA Communications in the third quarter worth $4,814,000. Finally, King Luther Capital Management Corp raised its holdings in SBA Communications by 1.2% in the third quarter. King Luther Capital Management Corp now owns 29,040 shares of the technology company’s stock worth $6,990,000 after purchasing an additional 341 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

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.