SBA Communications (SBAC) Rating Lowered to Buy at BidaskClub

SBA Communications (NASDAQ:SBAC) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday, BidAskClub reports.

Other analysts also recently issued reports about the stock. KeyCorp boosted their target price on shares of SBA Communications from $176.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 12th. Guggenheim downgraded 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 report on Friday, February 22nd. Zacks Investment Research downgraded shares of SBA Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th. SunTrust Banks reissued a “buy” rating and issued a $217.00 target price on shares of SBA Communications in a research report on Thursday, April 11th. They noted that the move was a valuation call. Finally, ValuEngine raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $193.33.

SBAC stock traded down $4.23 during trading hours on Tuesday, hitting $198.88. The company’s stock had a trading volume of 483,600 shares, compared to its average volume of 688,068. The company has a market capitalization of $22.87 billion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 2.61 and a beta of 0.83. SBA Communications has a 12 month low of $146.13 and a 12 month high of $204.34.

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

In related news, SVP Brian D. Lazarus sold 20,561 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $187.51, for a total transaction of $3,855,393.11. Following the completion of the sale, the senior vice president now directly owns 36,525 shares of the company’s stock, valued at approximately $6,848,802.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kurt L. Bagwell sold 92,154 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $181.89, for a total transaction of $16,761,891.06. Following the sale, the executive vice president now directly owns 82,878 shares of the company’s stock, valued at $15,074,679.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 246,558 shares of company stock valued at $45,484,249. 2.70% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of SBA Communications during the 4th quarter worth $138,480,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of SBA Communications during the 4th quarter worth $363,000. Flinton Capital Management LLC boosted its holdings in shares of SBA Communications by 11.7% during the 4th quarter. Flinton Capital Management LLC now owns 6,188 shares of the technology company’s stock worth $1,001,000 after buying an additional 646 shares during the period. RFG Advisory LLC bought a new stake in shares of SBA Communications during the 4th quarter worth $522,000. Finally, First Bank & Trust raised its stake in SBA Communications by 1.8% during the 4th quarter. First Bank & Trust now owns 5,361 shares of the technology company’s stock valued at $868,000 after purchasing an additional 93 shares during the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

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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