SBA Communications (SBAC) Upgraded to “Strong-Buy” at BidaskClub

SBA Communications (NASDAQ:SBAC) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday.

SBAC has been the subject of several other reports. Morgan Stanley raised their target price on shares of SBA Communications from $190.00 to $204.00 and gave the company an “overweight” rating in a research note on Monday. Bank of America set a $189.00 target price on shares of SBA Communications and gave the company a “buy” rating in a research note on Thursday, November 15th. ValuEngine cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Zacks Investment Research raised shares of SBA Communications from a “hold” rating to a “buy” rating and set a $192.00 target price for the company in a research note on Thursday, November 15th. Finally, Guggenheim cut shares of SBA Communications from a “buy” rating to a “neutral” rating and set a $185.00 target price for the company. in a research note on Friday, February 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $187.63.

NASDAQ:SBAC opened at $189.44 on Wednesday. SBA Communications has a 1-year low of $146.13 and a 1-year high of $189.50. The firm has a market capitalization of $21.28 billion, a P/E ratio of 24.93, a PEG ratio of 2.39 and a beta of 0.82.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Thursday, February 21st. The technology company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($1.33). SBA Communications had a net margin of 2.54% and a negative return on equity of 1.71%. The firm had revenue of $483.85 million during the quarter, compared to the consensus estimate of $472.87 million. During the same period in the prior year, the business posted $1.78 earnings per share. SBA Communications’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, research analysts anticipate that SBA Communications will post 7.82 EPS for the current fiscal year.

In other SBA Communications news, Director Duncan Cocroft sold 1,643 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $181.84, for a total transaction of $298,763.12. Following the completion of the sale, the director now owns 77,385 shares of the company’s stock, valued at approximately $14,071,688.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kurt L. Bagwell sold 22,400 shares of the firm’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $181.53, for a total value of $4,066,272.00. Following the sale, the executive vice president now directly owns 82,878 shares of the company’s stock, valued at approximately $15,044,843.34. The disclosure for this sale can be found here. Insiders have sold a total of 174,188 shares of company stock valued at $31,748,736 in the last ninety days. Insiders own 2.70% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Legacy Financial Advisors Inc. acquired a new stake in shares of SBA Communications during the fourth quarter worth $25,000. Resources Investment Advisors Inc. acquired a new stake in shares of SBA Communications during the fourth quarter worth $28,000. CWM LLC lifted its holdings in shares of SBA Communications by 49.2% during the fourth quarter. CWM LLC now owns 185 shares of the technology company’s stock worth $30,000 after buying an additional 61 shares in the last quarter. We Are One Seven LLC acquired a new stake in shares of SBA Communications during the fourth quarter worth $34,000. Finally, Private Capital Group LLC lifted its holdings in shares of SBA Communications by 38.7% during the fourth quarter. Private Capital Group LLC now owns 226 shares of the technology company’s stock worth $37,000 after buying an additional 63 shares in the last quarter. 93.66% of the stock is owned by institutional investors.

About SBA Communications

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. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.

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Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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