SBA Communications (NASDAQ:SBAC) Upgraded to “Buy” at StockNews.com

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

A number of other analysts have also recently commented on the stock. Raymond James lifted their target price on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group lifted their price objective on shares of SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. TD Cowen lifted their price objective on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Barclays reduced their price target on SBA Communications from $257.00 to $254.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $252.46.

SBA Communications Trading Up 0.1 %

Shares of NASDAQ:SBAC traded up $0.29 on Thursday, reaching $198.69. The company had a trading volume of 576,709 shares, compared to its average volume of 835,851. The firm has a market capitalization of $21.36 billion, a PE ratio of 31.34, a PEG ratio of 0.73 and a beta of 0.69. SBA Communications has a 52-week low of $183.64 and a 52-week high of $252.64. The firm’s 50 day simple moving average is $210.26 and its 200-day simple moving average is $221.61.

SBA Communications (NASDAQ:SBAC) last released 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). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The firm had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. During the same quarter in the prior year, the business posted $3.34 earnings per share. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, equities research analysts predict that SBA Communications will post 12.57 earnings per share for the current year.

Insider Buying and Selling at SBA Communications

In related news, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the transaction, the executive vice president now owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of SBA Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBAC. Ashton Thomas Securities LLC acquired a new stake in shares of SBA Communications in the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new stake in SBA Communications in the third quarter valued at $35,000. Friedenthal Financial acquired a new stake in SBA Communications in the third quarter valued at $50,000. Farther Finance Advisors LLC boosted its position in shares of SBA Communications by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after purchasing an additional 53 shares in the last quarter. Finally, CKW Financial Group acquired a new position in shares of SBA Communications during the 4th quarter worth $56,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

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.