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

SBA Communications (NASDAQ:SBAC) had its price objective raised by research analysts at Barclays from $240.00 to $244.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s target price suggests a potential upside of 9.60% from the company’s previous close.

Several other research firms also recently issued reports on SBAC. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Wells Fargo & Company increased their price target on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. 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. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and an average target price of $252.85.

SBA Communications Price Performance

Shares of SBAC stock traded up $1.66 during trading hours on Friday, hitting $222.63. The company had a trading volume of 489,290 shares, compared to its average volume of 839,507. The stock has a market capitalization of $23.96 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. SBA Communications has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The company’s fifty day moving average is $209.01 and its 200 day moving average is $220.21.

Insider Buying and Selling at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SBA Communications

Institutional investors have recently bought and sold shares of the business. Evermay Wealth Management LLC acquired a new position in shares of SBA Communications during the 4th quarter valued at $27,000. Graney & King LLC acquired a new position in shares of SBA Communications during the fourth quarter worth about $29,000. Oakworth Capital Inc. boosted its position in shares of SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after buying an additional 144 shares during the period. CKW Financial Group acquired a new stake in shares of SBA Communications in the fourth quarter valued at about $56,000. Finally, State of Wyoming lifted its position in SBA Communications by 75.8% during the 4th quarter. State of Wyoming now owns 276 shares of the technology company’s stock worth $56,000 after acquiring an additional 119 shares in the last quarter. 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.