SBA Communications (NASDAQ:SBAC) PT Raised to $252.00 at Morgan Stanley

SBA Communications (NASDAQ:SBAC) had its price objective raised by equities researchers at Morgan Stanley from $232.00 to $252.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s price target would suggest a potential upside of 5.75% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. BMO Capital Markets lowered their target price on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Barclays cut their price target on SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Royal Bank of Canada upped their price objective on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.00.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $238.29 on Wednesday. The stock’s fifty day moving average price is $223.59 and its two-hundred day moving average price is $209.10. The company has a market cap of $25.61 billion, a price-to-earnings ratio of 46.72, a P/E/G ratio of 0.75 and a beta of 0.67. SBA Communications has a 52-week low of $183.64 and a 52-week high of $258.76.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.56). The firm had revenue of $660.50 million for the quarter, compared to analyst estimates of $665.21 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same period last year, the company earned $3.24 EPS. On average, equities analysts predict that SBA Communications will post 12.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the transaction, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The disclosure for this sale can be found here. Insiders sold 51,590 shares of company stock worth $11,483,981 over the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SBA Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of SBAC. Ridgewood Investments LLC acquired a new position in SBA Communications during the 2nd quarter worth approximately $32,000. Family Firm Inc. bought a new position in SBA Communications in the second quarter valued at $36,000. Quarry LP increased its stake in SBA Communications by 400.0% in the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock valued at $42,000 after buying an additional 132 shares during the last quarter. Global X Japan Co. Ltd. bought a new stake in SBA Communications during the 2nd quarter worth about $49,000. Finally, Versant Capital Management Inc boosted its stake in shares of SBA Communications by 4,500.0% during the 2nd quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock worth $54,000 after buying an additional 270 shares during the last quarter. 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.