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

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

Several other equities analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price objective on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. BMO Capital Markets increased their target price on shares of SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Royal Bank of Canada raised their target price on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, The Goldman Sachs Group upped their price target on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $257.23.

SBA Communications Price Performance

NASDAQ SBAC opened at $223.92 on Thursday. The company has a fifty day moving average of $237.64 and a 200 day moving average of $215.43. The company has a market capitalization of $24.08 billion, a PE ratio of 35.32, a P/E/G ratio of 0.74 and a beta of 0.68. 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 earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The company had revenue of $667.60 million during the quarter, compared to analysts’ expectations of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.34 EPS. Research analysts expect that SBA Communications will post 12.56 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On SBA Communications

Several large investors have recently modified their holdings of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of SBA Communications by 53.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 282,536 shares of the technology company’s stock worth $68,007,000 after purchasing an additional 97,981 shares during the last quarter. King Luther Capital Management Corp boosted its stake in SBA Communications by 1.2% during the third quarter. King Luther Capital Management Corp now owns 29,040 shares of the technology company’s stock worth $6,990,000 after buying an additional 341 shares during the period. Citizens Financial Group Inc. RI acquired a new stake in shares of SBA Communications during the third quarter valued at about $4,814,000. Jennison Associates LLC purchased a new stake in shares of SBA Communications in the 3rd quarter valued at approximately $1,693,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of SBA Communications by 11.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 17,742 shares of the technology company’s stock worth $4,270,000 after acquiring an additional 1,799 shares during the last quarter. Institutional investors and hedge funds 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.