SBA Communications Corp. (NASDAQ:SBAC) has received an average recommendation of “Buy” from the fifteen analysts that are presently covering the company. Six investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $121.36.

A number of brokerages recently issued reports on SBAC. Jefferies Group reissued a “buy” rating on shares of SBA Communications Corp. in a report on Saturday, August 6th. BTIG Research reissued a “buy” rating and issued a $142.00 price objective (up previously from $135.00) on shares of SBA Communications Corp. in a report on Tuesday, July 19th. Zacks Investment Research raised shares of SBA Communications Corp. from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a report on Friday, July 15th. Citigroup Inc. reissued a “buy” rating and issued a $132.00 price objective (up previously from $112.00) on shares of SBA Communications Corp. in a report on Monday, July 11th. Finally, Morgan Stanley reissued a “buy” rating and issued a $134.00 price objective on shares of SBA Communications Corp. in a report on Thursday, August 25th.

SBA Communications Corp. (NASDAQ:SBAC) opened at 109.18 on Friday. SBA Communications Corp. has a 52-week low of $82.80 and a 52-week high of $121.45. The stock’s market cap is $13.61 billion. The firm’s 50-day moving average is $112.28 and its 200-day moving average is $106.93.

SBA Communications Corp. (NASDAQ:SBAC) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.12. SBA Communications Corp. had a negative net margin of 2.41% and a negative return on equity of 3.93%. The firm earned $405.50 million during the quarter, compared to analyst estimates of $403.37 million. During the same quarter in the prior year, the firm posted $1.42 earnings per share. SBA Communications Corp.’s quarterly revenue was down 1.3% on a year-over-year basis. Equities research analysts predict that SBA Communications Corp. will post $0.93 earnings per share for the current year.

In related news, Director George R. Krouse, Jr. sold 1,565 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $115.84, for a total value of $181,289.60. Following the sale, the director now owns 13,132 shares of the company’s stock, valued at $1,521,210.88. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey Stoops sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $116.20, for a total transaction of $11,620,000.00. Following the completion of the sale, the chief executive officer now directly owns 336,592 shares in the company, valued at approximately $39,111,990.40. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Legal & General Group Plc boosted its stake in shares of SBA Communications Corp. by 0.7% in the first quarter. Legal & General Group Plc now owns 617,961 shares of the company’s stock valued at $61,917,000 after buying an additional 4,229 shares during the period. Fairview Capital Investment Management LLC boosted its stake in shares of SBA Communications Corp. by 1.6% in the second quarter. Fairview Capital Investment Management LLC now owns 1,456,366 shares of the company’s stock valued at $157,200,000 after buying an additional 23,416 shares during the period. Geode Capital Management LLC boosted its stake in shares of SBA Communications Corp. by 4.1% in the first quarter. Geode Capital Management LLC now owns 863,727 shares of the company’s stock valued at $86,474,000 after buying an additional 34,139 shares during the period. Adage Capital Partners GP L.L.C. purchased a new stake in shares of SBA Communications Corp. during the first quarter valued at $22,538,000. Finally, AMP Capital Investors Ltd boosted its stake in shares of SBA Communications Corp. by 27.4% in the first quarter. AMP Capital Investors Ltd now owns 252,266 shares of the company’s stock valued at $25,217,000 after buying an additional 54,215 shares during the period. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

About SBA Communications Corp.

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.

5 Day Chart for NASDAQ:SBAC

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