SBA Communications (NASDAQ:SBAC) Now Covered by JMP Securities

Research analysts at JMP Securities assumed coverage on shares of SBA Communications (NASDAQ:SBAC) in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $250.00 price target on the technology company’s stock. JMP Securities’ price objective suggests a potential upside of 27.01% from the stock’s current price.

A number of other research analysts also recently weighed in on SBAC. KeyCorp upped their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. 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. Raymond James lifted their price objective on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Wells Fargo & Company lowered their price target on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and an average target price of $252.29.

SBA Communications Price Performance

NASDAQ:SBAC opened at $196.83 on Monday. The company’s fifty day moving average price is $209.38 and its 200-day moving average price is $221.84. SBA Communications has a 1-year low of $183.64 and a 1-year high of $252.64. The firm has a market capitalization of $21.16 billion, a P/E ratio of 31.05, a PEG ratio of 0.70 and a beta of 0.69.

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 the consensus estimate 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 during the quarter, compared to analysts’ expectations of $669.29 million. During the same quarter in the prior year, the company posted $3.34 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. Equities analysts anticipate that SBA Communications will post 12.57 EPS for the current fiscal year.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the sale, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. The trade was a 9.55 % 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 company insiders.

Hedge Funds Weigh In On SBA Communications

Several institutional investors have recently modified their holdings of SBAC. Exchange Traded Concepts LLC grew its stake in SBA Communications by 15.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock worth $78,000 after purchasing an additional 50 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of 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 valued at $127,000 after buying an additional 51 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after buying an additional 53 shares during the period. Versant Capital Management Inc grew its position in shares of SBA Communications by 17.3% during the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after buying an additional 53 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC increased its stake in shares of SBA Communications by 11.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 558 shares of the technology company’s stock worth $134,000 after buying an additional 58 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

About SBA Communications

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.