Barclays Cuts SBA Communications (NASDAQ:SBAC) Price Target to $240.00

SBA Communications (NASDAQ:SBAC) had its target price reduced by Barclays from $254.00 to $240.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s target price suggests a potential upside of 15.57% from the stock’s current price.

A number of other equities analysts also recently commented on the company. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. JMP Securities assumed coverage on SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 target price for the company. BMO Capital Markets restated a “market perform” rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Wells Fargo & Company decreased their price objective on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Finally, StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $251.29.

SBA Communications Stock Performance

SBAC traded down $0.11 during midday trading on Thursday, hitting $207.66. The stock had a trading volume of 149,005 shares, compared to its average volume of 730,813. The company has a market cap of $22.33 billion, a P/E ratio of 32.75, a price-to-earnings-growth ratio of 0.73 and a beta of 0.69. SBA Communications has a 1 year low of $183.64 and a 1 year high of $252.64. The business has a fifty day moving average of $202.77 and a 200 day moving average of $220.50.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the transaction, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Institutional Trading of SBA Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBAC. Ashton Thomas Securities LLC bought a new stake in SBA Communications during the 3rd quarter valued at approximately $26,000. Evermay Wealth Management LLC bought a new stake in SBA Communications during the 4th quarter valued at approximately $27,000. Graney & King LLC bought a new stake in SBA Communications during the 4th quarter valued at approximately $29,000. Capital Performance Advisors LLP bought a new stake in SBA Communications during the 3rd quarter valued at approximately $35,000. Finally, Oakworth Capital Inc. raised its stake in SBA Communications by 161.8% during the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after purchasing an additional 144 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.