SBA Communications (NASDAQ:SBAC) Upgraded by Citizens Jmp to “Strong-Buy” Rating

Citizens Jmp upgraded shares of SBA Communications (NASDAQ:SBAC) to a strong-buy rating in a research note published on Monday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the stock. Raymond James raised their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. KeyCorp boosted their price target on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. TD Cowen increased their price objective on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, JMP Securities assumed coverage on shares of SBA Communications in a research report on Monday. They set an “outperform” rating and a $250.00 price target on the stock. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.29.

SBA Communications Stock Up 5.6 %

Shares of NASDAQ SBAC opened at $207.94 on Monday. The business’s 50 day moving average price is $209.38 and its two-hundred day moving average price is $221.84. The company has a market cap of $22.36 billion, a PE ratio of 32.80, a price-to-earnings-growth ratio of 0.70 and a beta of 0.69. SBA Communications has a twelve month low of $183.64 and a twelve month high of $252.64.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The company had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. During the same period last year, the firm earned $3.34 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, research analysts anticipate that SBA Communications will post 12.57 EPS for the current fiscal year.

Insider Activity

In related 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 transaction of $795,249.85. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Donald Day sold 2,321 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On SBA Communications

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Oakworth Capital Inc. grew its holdings in shares of SBA Communications by 161.8% during 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 during the last quarter. State of Alaska Department of Revenue grew its holdings in SBA Communications by 0.5% during the 4th quarter. State of Alaska Department of Revenue now owns 64,049 shares of the technology company’s stock worth $13,051,000 after acquiring an additional 294 shares during the last quarter. Robertson Stephens Wealth Management LLC acquired a new position in SBA Communications in the 4th quarter valued at approximately $315,000. Vanderbilt University bought a new position in shares of SBA Communications during the fourth quarter valued at $858,000. Finally, Choreo LLC lifted its holdings in shares of SBA Communications by 40.8% during the fourth quarter. Choreo LLC now owns 6,476 shares of the technology company’s stock worth $1,317,000 after purchasing an additional 1,875 shares during the period. 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.