SBA Communications (SBAC) Upgraded to Buy by BidaskClub

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

SBAC has been the subject of several other research reports. Zacks Investment Research raised SBA Communications from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 25th. Macquarie decreased their price objective on SBA Communications from $166.00 to $161.00 and set a “neutral” rating for the company in a report on Wednesday, August 29th. ValuEngine lowered SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Morgan Stanley decreased their price objective on SBA Communications from $180.00 to $176.00 and set an “overweight” rating for the company in a report on Thursday, August 16th. Finally, Deutsche Bank lifted their price objective on SBA Communications from $170.00 to $183.00 and gave the stock a “hold” rating in a report on Wednesday, August 1st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. SBA Communications has a consensus rating of “Buy” and an average target price of $179.30.

Shares of SBAC opened at $162.17 on Thursday. SBA Communications has a fifty-two week low of $146.13 and a fifty-two week high of $177.67.



SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, July 30th. The technology company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.68). SBA Communications had a negative return on equity of 1.26% and a net margin of 1.73%. The firm had revenue of $456.30 million during the quarter, compared to analysts’ expectations of $457.43 million. During the same period last year, the business posted $1.73 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. As a group, equities analysts anticipate that SBA Communications will post 7.1 EPS for the current fiscal year.

In other SBA Communications news, Director Brian C. Carr sold 800 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $155.00, for a total value of $124,000.00. Following the completion of the transaction, the director now owns 3,070 shares in the company, valued at approximately $475,850. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey Stoops sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $154.16, for a total value of $6,166,400.00. Following the completion of the transaction, the chief executive officer now owns 268,756 shares of the company’s stock, valued at approximately $41,431,424.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,805 shares of company stock valued at $12,693,203. 2.70% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SBAC. Principal Financial Group Inc. boosted its stake in SBA Communications by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 5,319,778 shares of the technology company’s stock worth $909,256,000 after purchasing an additional 14,838 shares during the period. Suntrust Banks Inc. boosted its stake in SBA Communications by 12.2% in the 1st quarter. Suntrust Banks Inc. now owns 3,537 shares of the technology company’s stock worth $603,000 after purchasing an additional 384 shares during the period. DnB Asset Management AS boosted its stake in SBA Communications by 5.5% in the 2nd quarter. DnB Asset Management AS now owns 13,423 shares of the technology company’s stock worth $2,216,000 after purchasing an additional 700 shares during the period. IFM Investors Pty Ltd boosted its stake in SBA Communications by 39.7% in the 2nd quarter. IFM Investors Pty Ltd now owns 5,501 shares of the technology company’s stock worth $908,000 after purchasing an additional 1,562 shares during the period. Finally, CHURCHILL MANAGEMENT Corp bought a new position in SBA Communications in the 2nd quarter worth about $4,980,000. Institutional investors and hedge funds own 94.68% of the company’s stock.

SBA Communications Company Profile

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By "Building Better Wireless," SBA generates revenue from two primary businesses – site leasing and site development services.

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Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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