SBA Communications (NASDAQ:SBAC) Raised to Buy at StockNews.com

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

Other research analysts also recently issued reports about the company. BMO Capital Markets dropped their price objective on SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. KeyCorp increased their price target on SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada lifted their price objective on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. TD Cowen cut their target price on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $240.00.

SBA Communications Trading Down 0.7 %

Shares of SBAC stock opened at $238.29 on Friday. The stock has a 50-day moving average of $223.59 and a 200-day moving average of $209.10. The stock has a market cap of $25.61 billion, a price-to-earnings ratio of 46.72, a PEG ratio of 0.75 and a beta of 0.67. SBA Communications has a 1-year low of $183.64 and a 1-year high of $258.76.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The firm had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. During the same quarter last year, the firm posted $3.24 EPS. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. Sell-side analysts forecast that SBA Communications will post 12.53 earnings per share for the current year.

Insider Buying and Selling at SBA Communications

In related news, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the transaction, the chairman now directly owns 109,583 shares in the company, valued at $24,328,521.83. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the transaction, the director now owns 8,084 shares in the company, valued at approximately $1,775,084.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total value of $11,048,327.65. Following the sale, the chairman now owns 109,583 shares in the company, valued at $24,328,521.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,590 shares of company stock worth $11,483,981. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of SBA Communications

A number of large investors have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC bought a new position in shares of SBA Communications during the 2nd quarter valued at approximately $32,000. Family Firm Inc. bought a new position in SBA Communications during the second quarter valued at $36,000. Quarry LP increased its position in SBA Communications by 400.0% in the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after buying an additional 132 shares during the last quarter. Global X Japan Co. Ltd. bought a new stake in shares of SBA Communications in the second quarter valued at $49,000. Finally, Versant Capital Management Inc lifted its position in shares of SBA Communications by 4,500.0% during the 2nd quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock valued at $54,000 after buying an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Company Profile

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.