Raymond James Gives a Buy Rating to SBA Communications (SBAC)


In a report released yesterday, Ric Prentiss from Raymond James assigned a Buy rating to SBA Communications (SBAC). The company’s shares closed last Monday at $296.78.

According to TipRanks.com, Prentiss is a 4-star analyst with an average return of 4.7% and a 67.4% success rate. Prentiss covers the Technology sector, focusing on stocks such as Shenandoah Telecommunications Co, Telephone & Data Systems, and Iridium Communications.

Currently, the analyst consensus on SBA Communications is a Moderate Buy with an average price target of $316.30, a 6.9% upside from current levels. In a report issued on April 12, Jefferies also resumed coverage with a Buy rating on the stock with a $335.00 price target.

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SBA Communications’ market cap is currently $32.42B and has a P/E ratio of 1482.50. The company has a Price to Book ratio of -4.06.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SBAC in relation to earlier this year. Last month, Jack Langer, a Director at SBAC bought 2,202 shares for a total of $213,154.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

SBA Communications Corporation is a real estate investment trust, which owns and operates wireless communications infrastructure including towers, indoor/outdoor distributed antenna systems, and small cells. The company primarily operates in North, Central, and South America and South Africa.

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