SBA Communications (NASDAQ:SBAC) Price Target Increased to $382.00 by Analysts at Cowen

SBA Communications (NASDAQ:SBACGet Rating) had its price objective hoisted by equities research analysts at Cowen from $373.00 to $382.00 in a report issued on Tuesday, Stock Target Advisor reports. Cowen’s target price indicates a potential upside of 5.63% from the company’s current price.

Several other equities research analysts have also recently commented on SBAC. Credit Suisse Group boosted their price target on shares of SBA Communications from $383.00 to $405.00 and gave the stock an “outperform” rating in a research report on Tuesday. KeyCorp boosted their price target on shares of SBA Communications from $384.00 to $393.00 and gave the stock an “overweight” rating in a research report on Tuesday. Bank of America boosted their price target on shares of SBA Communications from $365.00 to $425.00 in a research report on Monday, January 3rd. StockNews.com initiated coverage on shares of SBA Communications in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Morgan Stanley boosted their price objective on shares of SBA Communications from $384.00 to $412.00 and gave the stock an “overweight” rating in a research note on Thursday, April 7th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, SBA Communications currently has a consensus rating of “Buy” and an average price target of $392.00.

SBAC traded up $1.69 during trading on Tuesday, hitting $361.63. The company had a trading volume of 17,751 shares, compared to its average volume of 736,288. The company has a market capitalization of $39.03 billion, a PE ratio of 168.85 and a beta of 0.44. SBA Communications has a one year low of $281.45 and a one year 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 issued its quarterly earnings results on Monday, April 25th. The technology company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.00 by $0.72. SBA Communications had a net margin of 10.29% and a negative return on equity of 4.72%. The firm had revenue of $619.77 million for the quarter, compared to analysts’ expectations of $603.91 million. During the same period in the previous year, the firm posted $2.58 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. Equities research analysts predict that SBA Communications will post 11.02 earnings per share for the current year.

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

Several large investors have recently made changes to their positions in SBAC. California Public Employees Retirement System lifted its stake in SBA Communications by 132.8% in the 3rd quarter. California Public Employees Retirement System now owns 564,185 shares of the technology company’s stock valued at $186,503,000 after purchasing an additional 321,795 shares during the last quarter. Gilbert & Cook Inc. lifted its stake in SBA Communications by 1.9% in the 4th quarter. Gilbert & Cook Inc. now owns 2,753 shares of the technology company’s stock valued at $1,071,000 after purchasing an additional 52 shares during the last quarter. Yousif Capital Management LLC bought a new position in SBA Communications in the 4th quarter valued at approximately $7,539,000. Brasada Capital Management LP lifted its stake in SBA Communications by 1.9% in the 3rd quarter. Brasada Capital Management LP now owns 27,677 shares of the technology company’s stock valued at $9,149,000 after purchasing an additional 510 shares during the last quarter. Finally, Shell Asset Management Co. lifted its stake in SBA Communications by 190.3% in the 3rd quarter. Shell Asset Management Co. now owns 1,942 shares of the technology company’s stock valued at $642,000 after purchasing an additional 1,273 shares during the last quarter. Hedge funds and other 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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