SBA Communications’ (SBAC) Buy Rating Reiterated at Barclays

Barclays reiterated their buy rating on shares of SBA Communications (NASDAQ:SBAC) in a report published on Friday. The brokerage currently has a $178.00 target price on the technology company’s stock.

Other analysts have also recently issued reports about the stock. Cowen reaffirmed a buy rating and issued a $170.00 price target (up from $155.00) on shares of SBA Communications in a report on Tuesday, December 5th. Guggenheim set a $172.00 price target on shares of SBA Communications and gave the company a buy rating in a report on Wednesday. Morgan Stanley upped their price target on shares of SBA Communications from $169.00 to $190.00 and gave the company an overweight rating in a report on Tuesday, November 14th. KeyCorp reaffirmed an overweight rating and issued a $192.00 price target (up from $179.00) on shares of SBA Communications in a report on Monday, November 27th. Finally, BidaskClub cut shares of SBA Communications from a sell rating to a strong sell rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. SBA Communications currently has an average rating of Buy and an average price target of $165.07.

SBA Communications (NASDAQ SBAC) traded up $4.14 on Friday, reaching $165.79. 1,620,000 shares of the company traded hands, compared to its average volume of 955,446. The firm has a market capitalization of $19,000.00, a PE ratio of 197.37 and a beta of 0.77. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of -3.63. SBA Communications has a 1 year low of $102.29 and a 1 year high of $173.97.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $1.50. The firm had revenue of $433.90 million for the quarter, compared to analysts’ expectations of $431.42 million. SBA Communications had a net margin of 5.95% and a negative return on equity of 4.71%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.12) earnings per share. sell-side analysts predict that SBA Communications will post 0.97 earnings per share for the current year.

In other SBA Communications news, Director George R. Krouse, Jr. sold 1,999 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $169.51, for a total transaction of $338,850.49. Following the completion of the sale, the director now owns 11,999 shares in the company, valued at $2,033,950.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.10% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank grew its position in shares of SBA Communications by 9.5% during the second quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock worth $201,000 after acquiring an additional 129 shares during the last quarter. State Treasurer State of Michigan bought a new position in shares of SBA Communications during the third quarter worth about $5,258,000. Oakbrook Investments LLC bought a new position in shares of SBA Communications during the third quarter worth about $828,000. New York State Teachers Retirement System grew its position in shares of SBA Communications by 26,162.1% during the third quarter. New York State Teachers Retirement System now owns 183,835 shares of the technology company’s stock worth $26,481,000 after acquiring an additional 183,135 shares during the last quarter. Finally, Aurora Investment Counsel bought a new position in shares of SBA Communications during the fourth quarter worth about $1,474,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

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SBA Communications Company Profile

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.

Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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