SBA Communications (NASDAQ:SBAC) Upgraded to “Buy” at StockNews.com

SBA Communications (NASDAQ:SBAC) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Several other research analysts also recently weighed in on SBAC. Barclays upped their target price on SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research note on Friday. Wells Fargo & Company upped their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. JMP Securities began coverage on shares of SBA Communications in a research report on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price on the stock. BMO Capital Markets restated a “market perform” rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, SBA Communications has an average rating of “Moderate Buy” and a consensus price target of $252.85.

SBA Communications Stock Performance

NASDAQ SBAC traded down $4.38 on Tuesday, reaching $214.31. 809,387 shares of the company’s stock traded hands, compared to its average volume of 848,238. SBA Communications has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The firm has a market cap of $23.06 billion, a price-to-earnings ratio of 33.80, a P/E/G ratio of 0.74 and a beta of 0.74. The stock has a 50 day moving average price of $210.45 and a 200-day moving average price of $219.73.

Insiders Place Their Bets

In other news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction on Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the transaction, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. The trade was a 26.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SBA Communications

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Evermay Wealth Management LLC purchased a new stake in shares of SBA Communications in the 4th quarter valued at approximately $27,000. Graney & King LLC acquired a new position in SBA Communications in the fourth quarter valued at approximately $29,000. Oakworth Capital Inc. grew 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 acquiring an additional 144 shares during the period. CKW Financial Group acquired a new stake in SBA Communications during the fourth quarter worth $56,000. Finally, State of Wyoming increased its stake in SBA Communications by 75.8% during the fourth quarter. State of Wyoming now owns 276 shares of the technology company’s stock worth $56,000 after acquiring an additional 119 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

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.