SBA Communications Corporation’s (SBAC) “Overweight” Rating Reiterated at Barclays PLC

SBA Communications Corporation (NASDAQ:SBAC)‘s stock had its “overweight” rating restated by stock analysts at Barclays PLC in a research report issued on Tuesday, August 1st. They presently have a $148.00 price target on the technology company’s stock. Barclays PLC’s price objective would suggest a potential upside of 3.57% from the company’s previous close.

A number of other brokerages have also weighed in on SBAC. Zacks Investment Research upgraded shares of SBA Communications Corporation from a “hold” rating to a “strong-buy” rating and set a $158.00 target price on the stock in a research report on Thursday, July 20th. Jefferies Group LLC raised their target price on shares of SBA Communications Corporation from $150.00 to $159.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $160.00 price target (up previously from $148.00) on shares of SBA Communications Corporation in a research note on Tuesday, August 1st. Deutsche Bank AG reaffirmed a “hold” rating and set a $150.00 price target (up previously from $133.00) on shares of SBA Communications Corporation in a research note on Friday, July 14th. Finally, Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of SBA Communications Corporation in a research note on Monday, June 12th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. SBA Communications Corporation currently has a consensus rating of “Buy” and an average price target of $141.57.

Shares of SBA Communications Corporation (NASDAQ:SBAC) opened at 142.90 on Tuesday. The company’s 50 day moving average price is $137.50 and its 200 day moving average price is $126.58. The stock has a market capitalization of $17.20 billion, a price-to-earnings ratio of 491.07 and a beta of 0.73. SBA Communications Corporation has a one year low of $95.66 and a one year high of $144.81.

SBA Communications Corporation (NASDAQ:SBAC) last issued its earnings results on Monday, July 31st. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by $0.01. SBA Communications Corporation had a net margin of 2.19% and a negative return on equity of 2.64%. The company had revenue of $427.30 million during the quarter, compared to analyst estimates of $426.10 million. During the same quarter in the prior year, the business earned $1.48 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts expect that SBA Communications Corporation will post $0.92 earnings per share for the current fiscal year.

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In related news, EVP Jason V. Silberstein sold 48,930 shares of SBA Communications Corporation stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $136.32, for a total transaction of $6,670,137.60. Following the completion of the transaction, the executive vice president now owns 24,231 shares of the company’s stock, valued at $3,303,169.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark R. Ciarfella sold 9,655 shares of SBA Communications Corporation stock in a transaction on Friday, August 4th. The stock was sold at an average price of $140.74, for a total transaction of $1,358,844.70. Following the transaction, the executive vice president now directly owns 21,403 shares of the company’s stock, valued at approximately $3,012,258.22. The disclosure for this sale can be found here. Insiders have sold 69,415 shares of company stock valued at $9,515,998 in the last three months. 2.10% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of SBAC. Xact Kapitalforvaltning AB bought a new stake in SBA Communications Corporation during the second quarter worth approximately $3,137,000. Korea Investment CORP boosted its stake in SBA Communications Corporation by 66,687.8% in the first quarter. Korea Investment CORP now owns 98,178 shares of the technology company’s stock worth $11,818,000 after buying an additional 98,031 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in SBA Communications Corporation during the first quarter worth approximately $2,250,000. York Capital Management Global Advisors LLC bought a new stake in SBA Communications Corporation during the first quarter worth approximately $8,048,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in SBA Communications Corporation by 8.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 257,200 shares of the technology company’s stock worth $30,960,000 after buying an additional 19,369 shares during the last quarter. Institutional investors and hedge funds own 99.23% of the company’s stock.

About SBA Communications Corporation

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.

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