SBA Communications Corporation (NASDAQ:SBAC)‘s stock had its “buy” rating reiterated by research analysts at Royal Bank Of Canada in a report released on Wednesday.

Several other equities research analysts also recently issued reports on the company. Deutsche Bank AG reaffirmed a “hold” rating and set a $133.00 price target (up previously from $121.00) on shares of SBA Communications Corporation in a report on Saturday, April 22nd. Barclays PLC raised their price target on SBA Communications Corporation from $136.00 to $137.00 and gave the company an “overweight” rating in a report on Wednesday, May 3rd. Cowen and Company raised their price target on SBA Communications Corporation from $131.00 to $141.00 and gave the company an “outperform” rating in a report on Tuesday, May 2nd. Citigroup Inc. downgraded SBA Communications Corporation to an “outperform” rating and set a $153.00 price target for the company. in a report on Monday, June 12th. Finally, BidaskClub downgraded SBA Communications Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, June 9th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $141.57.

Shares of SBA Communications Corporation (NASDAQ:SBAC) traded up 1.64% during trading on Wednesday, reaching $140.63. 241,980 shares of the company were exchanged. The stock has a market capitalization of $17.01 billion, a price-to-earnings ratio of 483.26 and a beta of 0.73. SBA Communications Corporation has a one year low of $95.66 and a one year high of $140.63. The company has a 50 day moving average price of $134.80 and a 200-day moving average price of $123.72.

SBA Communications Corporation (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, July 31st. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.01. SBA Communications Corporation had a net margin of 2.19% and a negative return on equity of 2.69%. The business had revenue of $427.30 million for the quarter, compared to analyst estimates of $426.10 million. During the same period in the prior year, the business earned $1.48 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts predict that SBA Communications Corporation will post $0.98 EPS for the current year.

TRADEMARK VIOLATION NOTICE: This piece was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another domain, it was illegally copied and reposted in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/08/04/sba-communications-corporation-nasdaqsbac-stock-rating-reaffirmed-by-royal-bank-of-canada.html.

In other news, Director Jack Langer sold 9,000 shares of SBA Communications Corporation stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $137.04, for a total transaction of $1,233,360.00. Following the completion of the sale, the director now owns 2,280 shares of the company’s stock, valued at $312,451.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Stoops sold 94,289 shares of SBA Communications Corporation stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $133.76, for a total value of $12,612,096.64. Following the sale, the chief executive officer now directly owns 329,124 shares of the company’s stock, valued at approximately $44,023,626.24. The disclosure for this sale can be found here. Insiders have sold 155,881 shares of company stock valued at $21,002,057 in the last three months. Insiders own 2.10% of the company’s stock.

Several large investors have recently bought and sold shares of the company. AQR Capital Management LLC bought a new position in shares of SBA Communications Corporation during the fourth quarter worth approximately $822,000. Teachers Advisors LLC boosted its position in shares of SBA Communications Corporation by 7.6% in the fourth quarter. Teachers Advisors LLC now owns 127,390 shares of the technology company’s stock worth $13,154,000 after buying an additional 8,986 shares during the last quarter. Manning & Napier Advisors LLC boosted its position in shares of SBA Communications Corporation by 132.4% in the first quarter. Manning & Napier Advisors LLC now owns 326,875 shares of the technology company’s stock worth $39,344,000 after buying an additional 186,215 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in shares of SBA Communications Corporation by 1.0% in the first quarter. Gulf International Bank UK Ltd now owns 39,470 shares of the technology company’s stock worth $4,751,000 after buying an additional 400 shares during the last quarter. Finally, CrestPoint Capital Management LLC boosted its position in shares of SBA Communications Corporation by 27.8% in the first quarter. CrestPoint Capital Management LLC now owns 4,600 shares of the technology company’s stock worth $554,000 after buying an additional 1,000 shares during the last quarter. 96.33% of the stock is owned by institutional investors.

SBA Communications Corporation Company Profile

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.

Analyst Recommendations for SBA Communications Corporation (NASDAQ:SBAC)

Receive News & Stock Ratings for SBA Communications Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications Corporation and related stocks with our FREE daily email newsletter.