Barclays Boosts SBA Communications (NASDAQ:SBAC) Price Target to $385.00

SBA Communications (NASDAQ:SBACGet Rating) had its price objective lifted by analysts at Barclays from $378.00 to $385.00 in a research note issued to investors on Tuesday, The Fly reports. Barclays‘s price target indicates a potential upside of 6.96% from the stock’s current price.

SBAC has been the topic of a number of other reports. KeyCorp lifted their target price on shares of SBA Communications from $379.00 to $384.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 1st. Moffett Nathanson downgraded shares of SBA Communications from a “buy” rating to a “neutral” rating and reduced their price target for the company from $393.00 to $380.00 in a research note on Monday, April 11th. Jefferies Financial Group downgraded shares of SBA Communications from a “buy” rating to a “hold” rating and reduced their price target for the company from $405.00 to $377.00 in a research note on Monday, January 10th. Bank of America boosted their price target on shares of SBA Communications from $365.00 to $425.00 in a research note on Monday, January 3rd. Finally, Royal Bank of Canada dropped their price objective on shares of SBA Communications from $380.00 to $370.00 and set an “outperform” rating for the company in a report on Monday, March 7th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $392.57.

SBAC opened at $359.94 on Tuesday. The firm has a market capitalization of $38.84 billion, a PE ratio of 168.99 and a beta of 0.44. SBA Communications has a twelve month low of $281.45 and a twelve month high of $391.15. The firm’s 50-day moving average price is $334.04 and its 200 day moving average price is $340.89.

SBA Communications (NASDAQ:SBACGet Rating) last posted its quarterly earnings results on Monday, April 25th. The technology company reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.96). SBA Communications had a negative return on equity of 4.72% and a net margin of 10.29%. The business had revenue of $619.77 million for the quarter, compared to analyst estimates of $603.91 million. During the same quarter in the previous year, the firm posted $2.58 earnings per share. The business’s revenue was up 12.9% compared to the same quarter last year. Equities analysts anticipate that SBA Communications will post 11.02 EPS for the current year.

In related news, EVP Kurt L. Bagwell sold 3,757 shares of the company’s stock in a transaction on Wednesday, March 9th. The shares were sold at an average price of $330.00, for a total value of $1,239,810.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George R. Krouse, Jr. sold 500 shares of the company’s stock in a transaction on Tuesday, March 8th. The shares were sold at an average price of $328.88, for a total transaction of $164,440.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,260 shares of company stock valued at $1,404,992. 1.80% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Cornerstone Wealth Group LLC purchased a new position in SBA Communications during the 1st quarter worth $3,413,000. Tobam raised its position in SBA Communications by 49.2% during the 1st quarter. Tobam now owns 567 shares of the technology company’s stock worth $195,000 after buying an additional 187 shares during the last quarter. Assenagon Asset Management S.A. raised its position in SBA Communications by 17.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,093 shares of the technology company’s stock worth $376,000 after buying an additional 166 shares during the last quarter. Allworth Financial LP raised its position in SBA Communications by 1,012.5% during the 1st quarter. Allworth Financial LP now owns 178 shares of the technology company’s stock worth $61,000 after buying an additional 162 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in SBA Communications by 1.5% during the 1st quarter. Louisiana State Employees Retirement System now owns 6,900 shares of the technology company’s stock worth $2,567,000 after buying an additional 100 shares during the last quarter. Institutional investors own 94.02% of the company’s stock.

SBA Communications Company Profile (Get Rating)

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By ÂBuilding Better Wireless, SBA generates revenue from two primary businesses Â- site leasing and site development services.

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