SBA Communications (NASDAQ:SBAC – Free Report) had its price objective trimmed by Wells Fargo & Company from $230.00 to $210.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.
SBAC has been the subject of several other research reports. TD Cowen increased their price objective on shares of SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James boosted their target price on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group raised their price target on shares of SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Finally, KeyCorp raised their target price on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $252.46.
Check Out Our Latest Research Report on SBAC
SBA Communications Stock Down 0.9 %
SBA Communications (NASDAQ:SBAC – Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.77). The company had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period last year, the company posted $3.34 EPS. Sell-side analysts expect that SBA Communications will post 12.57 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now owns 33,588 shares of the company’s stock, valued at $7,534,796.04. This represents a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
Institutional Investors Weigh In On SBA Communications
Large investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new stake in SBA Communications during the 3rd quarter worth about $26,000. Evermay Wealth Management LLC purchased a new stake in SBA Communications in the 4th quarter worth about $27,000. Capital Performance Advisors LLP purchased a new position in SBA Communications during the 3rd quarter valued at about $35,000. Friedenthal Financial purchased a new stake in shares of SBA Communications in the third quarter worth approximately $50,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after purchasing an additional 53 shares during the period. 97.35% of the stock is owned by institutional investors.
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.
Further Reading
- Five stocks we like better than SBA Communications
- 3 Small Caps With Big Return Potential
- Bloom Energy: Powering the Future With Decentralized Energy
- Dividend Payout Ratio Calculator
- Dividend Powerhouses: Blue-Chip Stocks Built for the Long Haul
- Compound Interest and Why It Matters When Investing
- Why Traders Are Buying the Dip on Johnson & Johnson Stock
Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.