SBA Communications (NASDAQ:SBAC) Rating Lowered to Hold at StockNews.com

SBA Communications (NASDAQ:SBAC) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other analysts have also recently commented on the stock. Royal Bank of Canada upped their price objective on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Raymond James raised their price target on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday. Morgan Stanley boosted their price objective on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. BMO Capital Markets raised their target price on shares of SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their price target 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. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.23.

SBA Communications Stock Up 0.1 %

NASDAQ SBAC traded up $0.13 on Wednesday, reaching $231.88. The company had a trading volume of 821,871 shares, compared to its average volume of 917,973. SBA Communications has a 52 week low of $183.64 and a 52 week high of $258.76. The stock has a market cap of $24.92 billion, a price-to-earnings ratio of 48.92, a PEG ratio of 0.73 and a beta of 0.67. The stock’s 50 day moving average is $237.77 and its 200-day moving average is $214.16.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The firm had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The business’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.34 earnings per share. As a group, analysts forecast that SBA Communications will post 12.52 EPS for the current year.

Insider Buying and Selling

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the firm’s 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 in the company, valued at $1,213,814.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Jeffrey Stoops sold 49,765 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $222.01, for a total value of $11,048,327.65. Following the sale, the chairman now directly owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, 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

Several institutional investors and hedge funds have recently bought and sold shares of the business. Crescent Grove Advisors LLC bought a new position in shares of SBA Communications during the 3rd quarter worth approximately $220,000. QRG Capital Management Inc. boosted its position in SBA Communications by 25.7% during the third quarter. QRG Capital Management Inc. now owns 6,655 shares of the technology company’s stock worth $1,602,000 after purchasing an additional 1,360 shares during the period. Asset Management One Co. Ltd. increased its holdings in shares of SBA Communications by 4.6% in the third quarter. Asset Management One Co. Ltd. now owns 41,244 shares of the technology company’s stock valued at $9,927,000 after purchasing an additional 1,806 shares during the last quarter. National Pension Service raised its position in shares of SBA Communications by 12.8% in the third quarter. National Pension Service now owns 178,966 shares of the technology company’s stock valued at $43,077,000 after purchasing an additional 20,307 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of SBA Communications by 12.8% during the 3rd quarter. Van ECK Associates Corp now owns 25,644 shares of the technology company’s stock worth $6,249,000 after buying an additional 2,905 shares during the last quarter. 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.