SBA Communications (NASDAQ:SBAC) Price Target Lowered to $254.00 at Barclays

SBA Communications (NASDAQ:SBAC) had its price target lowered by Barclays from $257.00 to $254.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s price target points to a potential upside of 31.77% from the stock’s current price.

Several other brokerages have also recently issued reports on SBAC. KeyCorp raised their target price on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Wells Fargo & Company raised their target price on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Morgan Stanley raised their target price on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Raymond James raised their target price on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. lifted their price objective on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $254.77.

SBA Communications Trading Down 3.5 %

SBAC opened at $192.76 on Monday. The stock has a fifty day simple moving average of $213.83 and a two-hundred day simple moving average of $221.38. The company has a market cap of $20.73 billion, a price-to-earnings ratio of 30.40, a price-to-earnings-growth ratio of 0.72 and a beta of 0.69. SBA Communications has a 12-month low of $183.64 and a 12-month high of $252.64.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.77). The company had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. SBA Communications’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.34 earnings per share. On average, analysts predict that SBA Communications will post 12.56 EPS for the current year.

Insider Buying and Selling

In other news, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald Day sold 2,321 shares of the company’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 transaction of $472,161.03. Following the completion of the sale, the executive vice president now directly 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. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SBAC. Ashton Thomas Securities LLC acquired a new position in SBA Communications during the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new position in SBA Communications during the 3rd quarter valued at approximately $35,000. Friedenthal Financial acquired a new position in SBA Communications during the 3rd quarter valued at approximately $50,000. Farther Finance Advisors LLC increased its stake in SBA Communications by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after purchasing an additional 53 shares in the last quarter. Finally, Eastern Bank acquired a new position in SBA Communications during the 3rd quarter valued at approximately $58,000. Institutional investors own 97.35% of the company’s stock.

About SBA Communications

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.