SBA Communications (NASDAQ:SBAC) Upgraded to “Peer Perform” by Wolfe Research

SBA Communications (NASDAQ:SBACGet Rating) was upgraded by equities researchers at Wolfe Research from an “underperform” rating to a “peer perform” rating in a note issued to investors on Tuesday, The Fly reports.

SBAC has been the topic of a number of other reports. Raymond James upped their target price on shares of SBA Communications from $308.00 to $334.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, November 23rd. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, November 22nd. Wells Fargo & Company increased their price objective on shares of SBA Communications from $300.00 to $340.00 in a research report on Wednesday, December 14th. Credit Suisse Group cut their price objective on shares of SBA Communications from $408.00 to $346.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of SBA Communications from $323.00 to $325.00 in a research report on Friday, December 2nd. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $340.20.

SBA Communications Trading Up 0.4 %

Shares of NASDAQ SBAC opened at $287.41 on Tuesday. SBA Communications has a 12 month low of $236.20 and a 12 month high of $379.99. The firm has a market capitalization of $31.03 billion, a PE ratio of 77.47 and a beta of 0.49. The firm has a fifty day simple moving average of $290.98 and a two-hundred day simple moving average of $299.77.

SBA Communications (NASDAQ:SBACGet Rating) last issued its quarterly earnings data on Monday, October 31st. The technology company reported $0.91 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.04). SBA Communications had a negative return on equity of 7.57% and a net margin of 16.01%. The company had revenue of $675.60 million during the quarter, compared to the consensus estimate of $651.42 million. During the same quarter last year, the company posted $2.71 earnings per share. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, sell-side analysts predict that SBA Communications will post 11.34 earnings per share for the current year.

Hedge Funds Weigh In On SBA Communications

Several institutional investors have recently made changes to their positions in SBAC. FMR LLC lifted its stake in shares of SBA Communications by 37.5% in the 2nd quarter. FMR LLC now owns 2,875,067 shares of the technology company’s stock worth $920,165,000 after purchasing an additional 783,686 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of SBA Communications by 26.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,988,846 shares of the technology company’s stock worth $956,580,000 after purchasing an additional 624,389 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of SBA Communications by 55.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,024,359 shares of the technology company’s stock worth $327,847,000 after purchasing an additional 366,879 shares during the period. Artemis Investment Management LLP lifted its stake in shares of SBA Communications by 476.5% in the 2nd quarter. Artemis Investment Management LLP now owns 387,368 shares of the technology company’s stock worth $124,218,000 after purchasing an additional 320,171 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in SBA Communications by 23.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,597,992 shares of the technology company’s stock worth $511,436,000 after acquiring an additional 307,538 shares during the period. Institutional investors own 93.54% of the company’s stock.

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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