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

SBA Communications (NASDAQ:SBAC) had its price objective decreased by Barclays from $254.00 to $240.00 in a research report released on Thursday,Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

Other analysts also recently issued research reports about the stock. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Raymond James increased their target price on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. JMP Securities began coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 target price for the company. 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. Finally, Wells Fargo & Company cut their target price on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $251.29.

SBA Communications Stock Performance

NASDAQ SBAC opened at $213.00 on Thursday. SBA Communications has a 52-week low of $183.64 and a 52-week high of $252.64. The company has a 50-day simple moving average of $202.62 and a 200 day simple moving average of $220.37. The company has a market capitalization of $22.90 billion, a PE ratio of 33.60, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69.

Insider Activity

In other news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the sale, the executive vice president now owns 33,588 shares in the company, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,016,743.14. The trade was a 31.71 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of SBA Communications

A number of hedge funds have recently bought and sold shares of SBAC. Ashton Thomas Securities LLC bought a new stake in SBA Communications in the 3rd quarter worth approximately $26,000. Evermay Wealth Management LLC bought a new stake in SBA Communications in the 4th quarter worth approximately $27,000. Graney & King LLC bought a new stake in SBA Communications in the 4th quarter worth approximately $29,000. Capital Performance Advisors LLP bought a new stake in SBA Communications in the 3rd quarter worth approximately $35,000. Finally, Oakworth Capital Inc. lifted its position in SBA Communications by 161.8% in the 4th 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 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.