SBA Communications (NASDAQ:SBAC) Price Target Increased to $250.00 by Analysts at JPMorgan Chase & Co.

SBA Communications (NASDAQ:SBAC) had its price target hoisted by research analysts at JPMorgan Chase & Co. from $228.00 to $250.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 3.95% from the stock’s previous close.

A number of other research firms have also recently weighed in on SBAC. KeyCorp upped their price objective on shares of SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group assumed coverage on shares of SBA Communications in a research report on Monday, July 1st. They set a “neutral” rating and a $212.00 price target for the company. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a report on Friday. Wells Fargo & Company cut SBA Communications from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $230.00 to $220.00 in a report on Monday, July 15th. Finally, Barclays lowered their price target on SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $241.75.

SBA Communications Stock Up 0.4 %

Shares of NASDAQ:SBAC traded up $1.04 during trading on Monday, reaching $240.51. 91,360 shares of the company’s stock traded hands, compared to its average volume of 924,542. SBA Communications has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The company has a 50-day simple moving average of $224.12 and a 200-day simple moving average of $209.19. The firm has a market cap of $25.84 billion, a PE ratio of 47.16, a P/E/G ratio of 0.75 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.56). The business had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $3.24 earnings per share. On average, equities research analysts forecast that SBA Communications will post 12.53 EPS for the current year.

Insiders Place Their Bets

In other news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the sale, the director now owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the transaction, the director now directly owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The disclosure for this sale can be found here. Insiders have sold 51,590 shares of company stock valued at $11,483,981 over the last ninety days. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On SBA Communications

Several large investors have recently made changes to their positions in SBAC. Sanctuary Advisors LLC acquired a new position in SBA Communications during the second quarter worth $932,000. Clear Rock Advisors LLC raised its holdings in shares of SBA Communications by 13.8% in the 2nd quarter. Clear Rock Advisors LLC now owns 9,043 shares of the technology company’s stock valued at $1,775,000 after buying an additional 1,099 shares during the period. Long Pond Capital LP acquired a new position in SBA Communications during the 2nd quarter worth about $83,687,000. The Manufacturers Life Insurance Company grew its position in SBA Communications by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 85,515 shares of the technology company’s stock valued at $16,787,000 after acquiring an additional 2,999 shares in the last quarter. Finally, MBB Public Markets I LLC acquired a new position in SBA Communications in the 2nd quarter valued at about $1,702,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

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.