SBA Communications (NASDAQ:SBAC) Raised to “Buy” at StockNews.com

SBA Communications (NASDAQ:SBACGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

SBAC has been the subject of a number of other research reports. Wells Fargo & Company lifted their target price on SBA Communications from $375.00 to $390.00 and gave the company an “overweight” rating in a report on Monday, April 18th. Credit Suisse Group lifted their target price on SBA Communications from $383.00 to $405.00 and gave the company an “outperform” rating in a report on Tuesday, April 26th. Royal Bank of Canada reduced their target price on SBA Communications from $380.00 to $370.00 and set an “outperform” rating for the company in a report on Monday, March 7th. Deutsche Bank Aktiengesellschaft lifted their target price on SBA Communications from $365.00 to $375.00 in a report on Wednesday, April 27th. Finally, Cowen lifted their target price on SBA Communications from $373.00 to $382.00 in a report on Tuesday, April 26th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, SBA Communications has an average rating of “Buy” and an average target price of $392.67.

Shares of SBAC opened at $334.17 on Thursday. The business has a 50-day moving average of $342.66 and a 200 day moving average of $341.12. SBA Communications has a fifty-two week low of $283.52 and a fifty-two week high of $391.15. The firm has a market cap of $36.03 billion, a P/E ratio of 84.39 and a beta of 0.41.

SBA Communications (NASDAQ:SBACGet Rating) last announced its quarterly earnings data on Monday, April 25th. The technology company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.72. SBA Communications had a negative return on equity of 8.54% and a net margin of 18.40%. The company had revenue of $619.77 million during the quarter, compared to analyst estimates of $603.91 million. During the same quarter last year, the firm posted $2.58 EPS. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, sell-side analysts predict that SBA Communications will post 11.09 EPS for the current year.

In related news, Director Kevin L. Beebe sold 1,889 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $347.72, for a total value of $656,843.08. Following the completion of the sale, the director now owns 14,813 shares in the company, valued at approximately $5,150,776.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kurt L. Bagwell sold 3,757 shares of the business’s stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $330.00, for a total value of $1,239,810.00. The disclosure for this sale can be found here. Insiders sold a total of 6,149 shares of company stock valued at $2,061,835 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in SBAC. UBS Asset Management Americas Inc. increased its stake in SBA Communications by 211.8% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 1,482,052 shares of the technology company’s stock worth $489,922,000 after purchasing an additional 1,006,759 shares during the period. Norges Bank purchased a new position in SBA Communications in the 4th quarter worth approximately $339,836,000. American Century Companies Inc. increased its stake in SBA Communications by 93.3% in the 1st quarter. American Century Companies Inc. now owns 1,396,737 shares of the technology company’s stock worth $480,617,000 after purchasing an additional 674,248 shares during the period. Invesco Ltd. increased its stake in SBA Communications by 52.1% in the 4th quarter. Invesco Ltd. now owns 1,446,272 shares of the technology company’s stock worth $562,630,000 after purchasing an additional 495,284 shares during the period. Finally, BlackRock Inc. increased its stake in SBA Communications by 3.7% in the 4th quarter. BlackRock Inc. now owns 9,895,814 shares of the technology company’s stock worth $3,849,667,000 after purchasing an additional 352,616 shares during the period. 95.41% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Company Profile (Get Rating)

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. 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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