SBA Communications (NASDAQ:SBAC) Given New $382.00 Price Target at Cowen

SBA Communications (NASDAQ:SBACGet Rating) had its price objective lifted by stock analysts at Cowen from $373.00 to $382.00 in a research note issued to investors on Tuesday, The Fly reports. Cowen’s price target would indicate a potential upside of 6.13% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on SBAC. Bank of America upped their target price on SBA Communications from $365.00 to $425.00 in a report on Monday, January 3rd. Royal Bank of Canada lowered their target price on SBA Communications from $380.00 to $370.00 and set an “outperform” rating for the company in a report on Monday, March 7th. Credit Suisse Group upped their price objective on SBA Communications from $383.00 to $405.00 and gave the stock an “outperform” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price objective on SBA Communications from $370.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, March 2nd. Finally, Barclays upped their price objective on SBA Communications from $378.00 to $385.00 in a research note on Tuesday. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, SBA Communications currently has an average rating of “Buy” and a consensus target price of $392.71.

Shares of SBA Communications stock opened at $359.94 on Tuesday. The stock’s fifty day moving average is $334.04 and its two-hundred day moving average is $340.89. The company has a market capitalization of $38.84 billion, a PE ratio of 168.99 and a beta of 0.44. SBA Communications has a 52 week low of $281.45 and a 52 week high of $391.15.

SBA Communications (NASDAQ:SBACGet Rating) last issued its earnings results on Monday, April 25th. The technology company reported $1.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 firm had revenue of $619.77 million during the quarter, compared to analysts’ expectations of $603.91 million. During the same quarter in the prior year, the company posted $2.58 earnings per share. SBA Communications’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, equities analysts anticipate that SBA Communications will post 11.02 EPS for the current year.

In other news, EVP Kurt L. Bagwell sold 3,757 shares of the stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $330.00, for a total value of $1,239,810.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director George R. Krouse, Jr. sold 500 shares of the stock in a transaction dated Tuesday, March 8th. The shares were sold at an average price of $328.88, for a total value of $164,440.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,260 shares of company stock valued at $1,404,992. 1.80% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. PFG Advisors grew its holdings in SBA Communications by 1.2% during the first quarter. PFG Advisors now owns 2,621 shares of the technology company’s stock worth $902,000 after acquiring an additional 30 shares during the period. Hotaling Investment Management LLC grew its holdings in SBA Communications by 4.9% during the first quarter. Hotaling Investment Management LLC now owns 708 shares of the technology company’s stock worth $244,000 after acquiring an additional 33 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in SBA Communications by 1.2% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,870 shares of the technology company’s stock worth $1,116,000 after acquiring an additional 34 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its holdings in SBA Communications by 1.8% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,320 shares of the technology company’s stock worth $767,000 after acquiring an additional 40 shares during the period. Finally, Harbor Investment Advisory LLC grew its holdings in SBA Communications by 11.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 436 shares of the technology company’s stock worth $170,000 after acquiring an additional 46 shares during the period. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading

The Fly logo

Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.