After Cowen & Co. and Morgan Stanley gave SBA Comms (NASDAQ: SBAC) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Jonathan Atkin reiterated a Buy rating on SBA Comms yesterday and set a price target of $188. The company’s shares closed on Friday at $158.49.
According to TipRanks.com, Atkin is a top 25 analyst with an average return of 17.3% and a 82.3% success rate. Atkin covers the Technology sector, focusing on stocks such as Frontier Communications Corporation, Interxion Holding NV, and GDS Holdings Ltd.
Currently, the analyst consensus on SBA Comms is a Strong Buy with an average price target of $186.20, representing a 17.5% upside. In a report issued on July 30, Cowen & Co. also reiterated a Buy rating on the stock with a $173 price target.
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The company has a one-year high of $177.67 and a one-year low of $137.17. Currently, SBA Comms has an average volume of 866.3K.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. Most recently, in June 2018, Kurt Bagwell, the EVP; Pres. – International of SBAC sold 126,605 shares for a total of $20,897,092.
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SBA Communications Corp. is a real estate investment trust, which engages in the provision of wireless communications infrastructures. It operates through the following business segments: Domestic Site Leasing, International Site Leasing, and Site Development. The Domestic Site Leasing segment includes AT&T, Sprint, T-Mobile, and Verizon Wireless.
