StockNews.com Downgrades SBA Communications (NASDAQ:SBAC) to Hold

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

Other analysts also recently issued reports about the company. TD Cowen upped their price objective on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday. 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 report on Tuesday. JPMorgan Chase & Co. lifted 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. KeyCorp upped their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Barclays raised their target price on shares of SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.23.

SBA Communications Stock Up 0.1 %

Shares of NASDAQ:SBAC traded up $0.13 during trading on Wednesday, reaching $231.88. 821,871 shares of the company traded hands, compared to its average volume of 917,973. The firm has a market capitalization of $24.92 billion, a PE ratio of 48.92, a PEG ratio of 0.73 and a beta of 0.67. SBA Communications has a 52 week low of $183.64 and a 52 week high of $258.76. The company’s 50 day moving average is $237.77 and its two-hundred day moving average is $214.16.

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

Insiders Place Their Bets

In other news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction on Friday, September 13th. The shares were 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 in the company, valued at $1,213,814.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Jeffrey Stoops sold 49,765 shares of the company’s stock in a transaction on 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 sale, the chairman now directly owns 109,583 shares in the company, valued at $24,328,521.83. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,590 shares of company stock worth $11,483,981. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SBA Communications

Hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its position in shares of SBA Communications by 6.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,722 shares of the technology company’s stock worth $807,000 after buying an additional 237 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in SBA Communications by 1.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 229,677 shares of the technology company’s stock valued at $49,771,000 after purchasing an additional 3,758 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of SBA Communications by 5.1% during the first quarter. First Trust Direct Indexing L.P. now owns 1,913 shares of the technology company’s stock valued at $415,000 after purchasing an additional 93 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of SBA Communications by 5.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,603 shares of the technology company’s stock worth $5,982,000 after purchasing an additional 1,309 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of SBA Communications by 144.7% during the 1st quarter. BNP Paribas Financial Markets now owns 359,736 shares of the technology company’s stock worth $77,955,000 after purchasing an additional 212,739 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

About SBA Communications

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.