Barclays Increases SBA Communications (NASDAQ:SBAC) Price Target to $244.00

SBA Communications (NASDAQ:SBAC) had its price target boosted by equities researchers at Barclays from $240.00 to $244.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective indicates a potential upside of 10.09% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. JMP Securities started coverage on shares of SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock. BMO Capital Markets restated a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company boosted their price target on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $252.85.

SBA Communications Stock Up 0.3 %

Shares of NASDAQ:SBAC opened at $221.64 on Friday. The company’s fifty day moving average is $209.59 and its two-hundred day moving average is $220.10. 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 $23.85 billion, a P/E ratio of 34.96, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74.

Insider Activity

In other news, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the transaction, the vice president now owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Evermay Wealth Management LLC acquired a new position in SBA Communications in the fourth quarter worth about $27,000. Graney & King LLC acquired a new position in SBA Communications in the fourth quarter worth about $29,000. Oakworth Capital Inc. raised its position in SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after purchasing an additional 144 shares in the last quarter. CKW Financial Group acquired a new position in SBA Communications in the fourth quarter worth about $56,000. Finally, State of Wyoming raised its position in SBA Communications by 75.8% in the fourth quarter. State of Wyoming now owns 276 shares of the technology company’s stock worth $56,000 after purchasing an additional 119 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Company Profile

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.