SBA Communications (SBAC) Price Target Increased to $222.00 by Analysts at Morgan Stanley

SBA Communications (NASDAQ:SBAC) had its target price upped by analysts at Morgan Stanley from $204.00 to $222.00 in a report released on Monday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s price target suggests a potential upside of 8.03% from the company’s previous close.

SBAC has been the topic of several other research reports. BidaskClub lowered shares of SBA Communications from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 20th. Bank of America upped their target price on shares of SBA Communications from $189.00 to $211.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. SunTrust Banks reaffirmed a “buy” rating and issued a $217.00 target price on shares of SBA Communications in a report on Thursday, April 11th. They noted that the move was a valuation call. Guggenheim lowered shares of SBA Communications from a “buy” rating to a “neutral” rating and set a $185.00 target price on the stock. in a report on Friday, February 22nd. Finally, Zacks Investment Research lowered shares of SBA Communications from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $197.56.

SBAC opened at $205.50 on Monday. SBA Communications has a twelve month low of $146.13 and a twelve month high of $214.93. The stock has a market capitalization of $23.64 billion, a PE ratio of 27.04, a PEG ratio of 2.71 and a beta of 0.82.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, April 29th. The technology company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.89 by ($1.66). SBA Communications had a negative return on equity of 1.44% and a net margin of 2.20%. The firm had revenue of $493.29 million during the quarter, compared to the consensus estimate of $481.06 million. During the same period in the previous year, the company posted $1.85 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, research analysts expect that SBA Communications will post 7.75 earnings per share for the current year.

In other SBA Communications news, Director Kevin L. Beebe sold 440 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $189.86, for a total transaction of $83,538.40. Following the sale, the director now owns 13,369 shares of the company’s stock, valued at approximately $2,538,238.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian C. Carr sold 700 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $206.50, for a total transaction of $144,550.00. Following the sale, the director now directly owns 2,590 shares in the company, valued at approximately $534,835. The disclosure for this sale can be found here. In the last three months, insiders have sold 255,916 shares of company stock worth $47,405,473. Insiders own 2.50% of the company’s stock.

Large investors have recently modified their holdings of the business. Allstate Corp raised its position in shares of SBA Communications by 4.1% in the 1st quarter. Allstate Corp now owns 3,393 shares of the technology company’s stock valued at $677,000 after acquiring an additional 135 shares during the period. EP Wealth Advisors LLC acquired a new stake in shares of SBA Communications in the 1st quarter valued at approximately $211,000. FMR LLC raised its position in shares of SBA Communications by 3,456.5% in the 1st quarter. FMR LLC now owns 1,245,173 shares of the technology company’s stock valued at $248,612,000 after acquiring an additional 1,210,162 shares during the period. HighTower Advisors LLC raised its position in shares of SBA Communications by 2.2% in the 1st quarter. HighTower Advisors LLC now owns 5,932 shares of the technology company’s stock valued at $1,187,000 after acquiring an additional 125 shares during the period. Finally, RMB Capital Management LLC acquired a new stake in shares of SBA Communications in the 1st quarter valued at approximately $202,000. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

About SBA Communications

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By “Building Better Wireless,” SBA generates revenue from two primary businesses – site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.

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Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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