SBA Communications Co. (NASDAQ:SBAC) Receives Average Rating of “Moderate Buy” from Brokerages

SBA Communications Co. (NASDAQ:SBAC) has received a consensus rating of “Moderate Buy” from the fifteen research firms that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $251.29.

Several equities research analysts recently weighed in on SBAC shares. JMP Securities assumed coverage on SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective for the company. BMO Capital Markets reiterated a “market perform” rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Barclays lowered their price target on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday. TD Cowen raised their price objective on shares of SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, Citizens Jmp raised SBA Communications to a “strong-buy” rating in a report on Monday, January 27th.

Insider Buying and Selling

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. This represents a 9.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Donald Day sold 2,321 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following 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 Trading of SBA Communications

A number of institutional investors have recently modified their holdings of SBAC. Ashton Thomas Securities LLC bought a new stake in shares of SBA Communications in the 3rd quarter worth approximately $26,000. Evermay Wealth Management LLC bought a new stake in SBA Communications in the fourth quarter valued at $27,000. Graney & King LLC purchased a new position in SBA Communications during the 4th quarter valued at $29,000. Capital Performance Advisors LLP purchased a new stake in shares of SBA Communications in the 3rd quarter worth about $35,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of 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. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Trading Up 1.1 %

SBA Communications stock opened at $210.03 on Friday. The business’s 50 day simple moving average is $202.64 and its 200 day simple moving average is $220.43. SBA Communications has a 12 month low of $183.64 and a 12 month high of $252.64. The company has a market cap of $22.58 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 0.73 and a beta of 0.69.

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.