SBA Communications (NASDAQ:SBAC) Given New $261.00 Price Target at TD Cowen

SBA Communications (NASDAQ:SBAC - Free Report) had its target price raised by TD Cowen from $251.00 to $261.00 in a report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the technology company's stock.

Several other research analysts also recently commented on SBAC. JPMorgan Chase & Co. lifted their target price on shares of SBA Communications from $228.00 to $250.00 and gave the stock a "neutral" rating in a research note on Monday, September 23rd. StockNews.com raised shares of SBA Communications from a "hold" rating to a "buy" rating in a research note on Friday, September 20th. Wells Fargo & Company lifted their target price on shares of SBA Communications from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 10th. Barclays boosted their price objective on shares of SBA Communications from $236.00 to $256.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the company a "buy" rating in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $257.23.

SBA Communications Trading Down 3.4 %

Shares of SBAC traded down $8.19 during mid-day trading on Tuesday, reaching $231.75. The company's stock had a trading volume of 1,363,466 shares, compared to its average volume of 918,433. The stock has a market cap of $24.91 billion, a PE ratio of 48.94, a P/E/G ratio of 0.73 and a beta of 0.67. SBA Communications has a 52 week low of $183.64 and a 52 week high of $258.76. The company's fifty day moving average price is $237.27 and its two-hundred day moving average price is $213.83.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing analysts' consensus estimates of $3.17 by ($0.77). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The business had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. During the same quarter in the previous year, the firm posted $3.34 earnings per share. The company's revenue was down 2.2% compared to the same quarter last year. Research analysts anticipate that SBA Communications will post 12.52 EPS for the current year.

Insider Activity

In other news, Chairman Jeffrey Stoops sold 49,765 shares of the business's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the sale, the chairman now owns 109,583 shares in the company, valued at approximately $24,328,521.83. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Donald Day sold 1,500 shares of the company'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 transaction, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Jeffrey Stoops sold 49,765 shares of the company's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the completion of the transaction, the chairman now owns 109,583 shares in the company, valued at approximately $24,328,521.83. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,590 shares of company stock worth $11,483,981. Corporate insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On SBA Communications

A number of hedge funds have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. boosted its stake in SBA Communications by 10.7% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company's stock worth $127,000 after purchasing an additional 51 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in SBA Communications by 0.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company's stock worth $1,819,000 after purchasing an additional 53 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in 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 acquiring an additional 53 shares during the period. Checchi Capital Advisers LLC lifted its stake in SBA Communications by 4.1% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company's stock valued at $286,000 after acquiring an additional 57 shares during the period. Finally, Industrial Alliance Investment Management Inc. lifted its stake in SBA Communications by 3.9% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company's stock valued at $338,000 after acquiring an additional 58 shares during the period. Institutional investors 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.