SBA Communications Corporation (SBAC) Lifted to Buy at BidaskClub

SBA Communications Corporation (NASDAQ:SBAC) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

SBAC has been the subject of a number of other reports. Raymond James Financial, Inc. reiterated an “outperform” rating on shares of SBA Communications Corporation in a research note on Monday, June 12th. Stifel Nicolaus set a $148.00 target price on SBA Communications Corporation and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. Cowen and Company raised their target price on SBA Communications Corporation from $131.00 to $141.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 2nd. Deutsche Bank AG reaffirmed a “hold” rating and set a $133.00 target price (up from $121.00) on shares of SBA Communications Corporation in a research report on Saturday, April 22nd. Finally, Jefferies Group LLC raised their target price on SBA Communications Corporation from $133.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. SBA Communications Corporation has an average rating of “Buy” and a consensus price target of $141.57.

SBA Communications Corporation (SBAC) traded down 1.08% during midday trading on Tuesday, hitting $138.01. The stock had a trading volume of 241,947 shares. The company has a 50-day moving average of $134.80 and a 200-day moving average of $123.72. The stock has a market cap of $16.70 billion, a price-to-earnings ratio of 474.26 and a beta of 0.73. SBA Communications Corporation has a 1-year low of $95.66 and a 1-year high of $140.38.

SBA Communications Corporation (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, July 31st. The technology company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.01. SBA Communications Corporation had a net margin of 2.19% and a negative return on equity of 2.69%. The firm had revenue of $427.30 million during the quarter, compared to the consensus estimate of $426.10 million. During the same quarter in the previous year, the company posted $1.48 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. Equities research analysts forecast that SBA Communications Corporation will post $0.98 EPS for the current year.

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In other SBA Communications Corporation news, Director Brian C. Carr sold 3,475 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $132.54, for a total transaction of $460,576.50. Following the completion of the sale, the director now directly owns 3,051 shares in the company, valued at approximately $404,379.54. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jason V. Silberstein sold 48,930 shares of the stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $136.32, for a total value of $6,670,137.60. Following the sale, the executive vice president now owns 24,231 shares of the company’s stock, valued at $3,303,169.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 167,179 shares of company stock valued at $22,588,671. Company insiders own 2.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of SBA Communications Corporation by 2,233.0% in the first quarter. BlackRock Inc. now owns 8,450,685 shares of the technology company’s stock worth $1,017,210,000 after buying an additional 8,088,459 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of SBA Communications Corporation by 1.1% in the first quarter. Principal Financial Group Inc. now owns 5,644,327 shares of the technology company’s stock worth $679,407,000 after buying an additional 60,436 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of SBA Communications Corporation by 8.7% in the second quarter. William Blair Investment Management LLC now owns 2,682,091 shares of the technology company’s stock worth $361,814,000 after buying an additional 215,709 shares during the last quarter. Iridian Asset Management LLC CT increased its stake in shares of SBA Communications Corporation by 88.1% in the second quarter. Iridian Asset Management LLC CT now owns 2,641,198 shares of the technology company’s stock worth $356,298,000 after buying an additional 1,237,008 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of SBA Communications Corporation by 41.4% in the second quarter. American Century Companies Inc. now owns 2,230,739 shares of the technology company’s stock worth $300,927,000 after buying an additional 652,647 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

About SBA Communications Corporation

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.

Analyst Recommendations for SBA Communications Corporation (NASDAQ:SBAC)

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