SBA Communications (NASDAQ:SBAC) Stock Rating Upgraded by StockNews.com

SBA Communications (NASDAQ:SBAC) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

A number of other brokerages have also commented on SBAC. Royal Bank of Canada boosted their price objective on shares of SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Barclays boosted their price target on SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. KeyCorp lifted their price objective on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group increased their target price on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Finally, BMO Capital Markets raised their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $257.23.

SBA Communications Trading Down 4.2 %

Shares of SBA Communications stock opened at $218.75 on Thursday. The company has a fifty day moving average price of $237.80 and a 200 day moving average price of $215.20. SBA Communications has a twelve month low of $183.64 and a twelve month high of $258.76. The stock has a market cap of $23.51 billion, a price-to-earnings ratio of 34.50, a price-to-earnings-growth ratio of 0.68 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.77). The company had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.34 earnings per share. Analysts forecast that SBA Communications will post 12.56 earnings per share for the current year.

Insider Transactions at SBA Communications

In other news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Donald Day sold 1,500 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now directly owns 8,084 shares in the company, valued at $1,775,084.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On SBA Communications

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its holdings in shares of SBA Communications by 191.3% in the first quarter. SG Americas Securities LLC now owns 25,828 shares of the technology company’s stock valued at $5,597,000 after buying an additional 16,962 shares during the period. Virtu Financial LLC bought a new stake in shares of SBA Communications in the 1st quarter worth approximately $1,764,000. Centersquare Investment Management LLC increased its holdings in shares of SBA Communications by 1.9% in the first quarter. Centersquare Investment Management LLC now owns 168,379 shares of the technology company’s stock valued at $36,488,000 after buying an additional 3,087 shares in the last quarter. Tidal Investments LLC lifted its position in shares of SBA Communications by 105.4% during the 1st quarter. Tidal Investments LLC now owns 5,279 shares of the technology company’s stock valued at $1,144,000 after acquiring an additional 2,709 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of SBA Communications by 7.8% during the 1st quarter. Lazard Asset Management LLC now owns 148,687 shares of the technology company’s stock worth $32,219,000 after acquiring an additional 10,753 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.