SBA Communications' (SBAC) "Strong-Buy" Rating Reaffirmed at Raymond James

SBA Communications (NASDAQ:SBAC - Get Free Report)'s stock had its "strong-buy" rating restated by stock analysts at Raymond James in a note issued to investors on Tuesday,Benzinga reports. They currently have a $268.00 target price on the technology company's stock, up from their prior target price of $265.00. Raymond James' target price suggests a potential upside of 13.96% from the company's previous close.

SBAC has been the subject of several other research reports. StockNews.com cut SBA Communications from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. BMO Capital Markets boosted their target price on SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research report on Tuesday. Citizens Jmp raised SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Wells Fargo & Company lifted their price objective on SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $250.46.

SBA Communications Stock Performance

Shares of NASDAQ SBAC traded up $11.89 during trading on Tuesday, hitting $235.17. The company had a trading volume of 371,942 shares, compared to its average volume of 904,224. SBA Communications has a 12 month low of $183.64 and a 12 month high of $252.64. The firm has a market capitalization of $25.31 billion, a P/E ratio of 37.08, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The stock has a 50 day simple moving average of $219.45 and a 200 day simple moving average of $216.36.

Insider Transactions at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares of the company's stock, valued at $1,362,790.22. This represents a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.92% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Evermay Wealth Management LLC bought a new stake in shares of SBA Communications during the 4th quarter worth approximately $27,000. Independence Bank of Kentucky purchased a new stake in SBA Communications in the first quarter worth $28,000. Graney & King LLC bought a new stake in shares of SBA Communications during the fourth quarter worth $29,000. NBC Securities Inc. boosted its stake in shares of SBA Communications by 1,575.0% during the first quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock valued at $44,000 after purchasing an additional 189 shares during the period. Finally, Oakworth Capital Inc. boosted its stake in shares of SBA Communications by 161.8% during the fourth 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.

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.

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