SBA Communications (SBAC) Gets a Buy Rating from Raymond James


Raymond James analyst Ric Prentiss reiterated a Buy rating on SBA Communications (SBAC) today. The company’s shares closed last Monday at $293.52.

According to TipRanks.com, Prentiss is a 1-star analyst with an average return of -1.6% and a 61.9% success rate. Prentiss covers the Technology sector, focusing on stocks such as Shenandoah Telecommunications Co, United States Cellular, and Iridium Communications.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for SBA Communications with a $333.60 average price target, representing a 12.9% upside. In a report released today, Citigroup also maintained a Buy rating on the stock with a $336.00 price target.

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The company has a one-year high of $328.37 and a one-year low of $205.20. Currently, SBA Communications has an average volume of 502.9K.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SBAC in relation to earlier this year. Most recently, in September 2020, Duncan Cocroft, a Director at SBAC sold 2,202 shares for a total of $692,001.

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 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. The International Site Leasing segment acquires and develops towers. The Site Development segment includes consulting and construction activities. The company was founded by Steven E. Bernstein in 1989 and is headquartered in Boca Raton, FL.

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