Moffett Nathanson reissued their neutral rating on shares of SBA Communications (NASDAQ:SBAC) in a research report released on Monday morning, BenzingaRatingsTable reports. They currently have a $246.00 price objective on the technology company’s stock.

SBAC has been the topic of a number of other reports. UBS Group reissued a buy rating on shares of Fortis in a research report on Friday, June 7th. Raymond James reissued an average rating and issued a $16.00 price target on shares of Aeroflex in a research report on Wednesday, May 1st. BidaskClub raised Zogenix from a sell rating to a hold rating in a research report on Thursday, May 9th. Morgan Stanley boosted their price target on United Technologies from $155.00 to $164.00 and gave the stock an overweight rating in a research report on Monday, May 20th. Finally, New Street Research cut CROWN CASTLE IN/SH SH from a neutral rating to a sell rating and set a $113.00 price target on the stock. in a research report on Thursday, June 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. SBA Communications currently has an average rating of Hold and an average price target of $208.33.

Shares of SBAC opened at $235.18 on Monday. The stock has a 50 day moving average of $223.72. SBA Communications has a 52 week low of $146.13 and a 52 week high of $236.90. The company has a market cap of $26.58 billion, a PE ratio of 30.94, a P/E/G ratio of 3.00 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, April 29th. The technology company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $493.29 million during the quarter, compared to the consensus estimate of $481.06 million. During the same period in the prior year, the firm earned $1.85 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, research analysts forecast that SBA Communications will post 7.75 earnings per share for the current fiscal year.

In related news, EVP Mark R. Ciarfella sold 6,759 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $205.50, for a total value of $1,388,974.50. Following the completion of the transaction, the executive vice president now directly owns 72,880 shares in the company, valued at approximately $14,976,840. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey Stoops sold 37,847 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $218.87, for a total transaction of $8,283,572.89. Following the completion of the transaction, the chief executive officer now owns 255,141 shares of the company’s stock, valued at $55,842,710.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,978 shares of company stock valued at $14,787,645. 2.50% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in SBAC. Pinnacle Bank purchased a new stake in SBA Communications during the 4th quarter valued at $25,000. Spectrum Management Group Inc. purchased a new stake in SBA Communications during the 1st quarter valued at $27,000. Resources Investment Advisors Inc. purchased a new stake in SBA Communications during the 4th quarter valued at $28,000. CWM LLC raised its stake in SBA Communications by 31.4% during the 1st quarter. CWM LLC now owns 243 shares of the technology company’s stock valued at $49,000 after buying an additional 58 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in SBA Communications by 27.0% during the 1st quarter. Parallel Advisors LLC now owns 268 shares of the technology company’s stock valued at $53,000 after buying an additional 57 shares during the last quarter. Institutional investors own 94.24% of the company’s stock.

SBA Communications Company Profile

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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