SBA Communications (NASDAQ:SBAC) Upgraded at StockNews.com

SBA Communications (NASDAQ:SBAC) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Several other research firms have also commented on SBAC. Wells Fargo & Company raised their price target on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. JMP Securities started coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock. Finally, BMO Capital Markets restated a “market perform” rating and issued a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.85.

SBA Communications Price Performance

Shares of SBAC stock traded down $4.38 during trading hours on Tuesday, hitting $214.31. The company had a trading volume of 809,387 shares, 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 company’s fifty day moving average is $210.45 and its 200 day moving average is $219.73. The stock has a market capitalization of $23.06 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74.

Insider Activity at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was 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 directly owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 made changes to their positions in the business. Exchange Traded Concepts LLC increased its stake in SBA Communications by 15.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock valued at $78,000 after purchasing an additional 50 shares during the last quarter. Versant Capital Management Inc grew its position in shares of SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after buying an additional 53 shares during the last quarter. Auxano Advisors LLC grew its position in shares of SBA Communications by 2.3% in the 4th quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock valued at $495,000 after buying an additional 54 shares during the last quarter. DoubleLine ETF Adviser LP raised its stake in SBA Communications by 0.7% during the 4th quarter. DoubleLine ETF Adviser LP now owns 7,738 shares of the technology company’s stock worth $1,577,000 after acquiring an additional 57 shares in the last quarter. Finally, Lake Street Advisors Group LLC lifted its position in SBA Communications by 5.8% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company’s stock valued at $225,000 after acquiring an additional 61 shares during 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.