SBA Communications (SBAC) Reaches New 12-Month High at $185.93
SBA Communications Co. (NASDAQ:SBAC) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $185.93 and last traded at $185.50, with a volume of 1332658 shares changing hands. The stock had previously closed at $184.19.
SBAC has been the topic of a number of research reports. Zacks Investment Research raised shares of SBA Communications from a “hold” rating to a “buy” rating and set a $192.00 price target on the stock in a research note on Thursday, November 15th. ValuEngine lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Citigroup upped their price target on shares of SBA Communications from $187.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, November 6th. BidaskClub downgraded shares of SBA Communications from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 28th. Finally, KeyCorp upped their price target on shares of SBA Communications from $176.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. SBA Communications has a consensus rating of “Buy” and an average price target of $182.00.
In related news, SVP Brian D. Lazarus sold 15,875 shares of the stock in a transaction dated Friday, December 14th. The stock was sold at an average price of $173.00, for a total transaction of $2,746,375.00. Following the completion of the sale, the senior vice president now owns 26,423 shares in the company, valued at $4,571,179. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin L. Beebe sold 10,000 shares of the stock in a transaction dated Thursday, December 13th. The stock was sold at an average price of $172.51, for a total value of $1,725,100.00. Following the sale, the director now owns 21,726 shares of the company’s stock, valued at approximately $3,747,952.26. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.
SBA Communications Company Profile (NASDAQ:SBAC)
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.
Recommended Story: What is Compound Annual Growth Rate (CAGR)?
Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.