Shares of SBA Communications Corp. (NASDAQ:SBAC) have been given an average rating of “Buy” by the fourteen analysts that are covering the firm. Five analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $121.36.

Several research firms have recently weighed in on SBAC. BTIG Research reissued a “buy” rating and issued a $142.00 price objective (up from $135.00) on shares of SBA Communications Corp. in a report on Tuesday, July 19th. Barclays PLC increased their price objective on SBA Communications Corp. from $115.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, July 21st. Morgan Stanley reissued an “overweight” rating and issued a $132.00 price objective on shares of SBA Communications Corp. in a report on Friday, July 22nd. Zacks Investment Research downgraded SBA Communications Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Finally, Jefferies Group increased their price objective on SBA Communications Corp. from $115.00 to $133.00 and gave the company a “buy” rating in a report on Friday, July 29th.

In related news, Director Duncan Cocroft acquired 500 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were acquired at an average price of $109.14 per share, with a total value of $54,570.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its stake in shares of SBA Communications Corp. by 88.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,479,251 shares of the company’s stock worth $267,611,000 after buying an additional 1,160,641 shares during the last quarter. FMR LLC raised its stake in shares of SBA Communications Corp. by 40.7% in the second quarter. FMR LLC now owns 2,884,446 shares of the company’s stock worth $311,347,000 after buying an additional 833,990 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of SBA Communications Corp. by 13.7% in the second quarter. Principal Financial Group Inc. now owns 5,186,970 shares of the company’s stock worth $559,881,000 after buying an additional 624,846 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of SBA Communications Corp. by 15.8% in the second quarter. Brown Advisory Inc. now owns 3,411,246 shares of the company’s stock worth $368,209,000 after buying an additional 466,410 shares during the last quarter. Finally, Meritage Group LP raised its stake in shares of SBA Communications Corp. by 19.9% in the second quarter. Meritage Group LP now owns 2,496,869 shares of the company’s stock worth $269,512,000 after buying an additional 414,476 shares during the last quarter. 95.63% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SBA Communications Corp. (NASDAQ:SBAC) opened at 99.02 on Friday. SBA Communications Corp. has a 1-year low of $82.80 and a 1-year high of $118.57. The company has a 50-day moving average of $110.36 and a 200-day moving average of $108.55. The firm has a market cap of $12.31 billion, a PE ratio of 122.70 and a beta of 0.80.

SBA Communications Corp. (NASDAQ:SBAC) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $1.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $1.44. The firm earned $411.30 million during the quarter, compared to the consensus estimate of $412.65 million. SBA Communications Corp. had a negative return on equity of 2.25% and a net margin of 6.38%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.43 earnings per share. Analysts predict that SBA Communications Corp. will post $0.65 earnings per share for the current fiscal year.

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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