SBA Communications (NASDAQ:SBAC) Downgraded by StockNews.com to “Hold”

SBA Communications (NASDAQ:SBAC) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

SBAC has been the subject of a number of other reports. Morgan Stanley lifted their price objective on shares of SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. TD Cowen upped their price target on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. raised their price objective on shares of SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company lifted their price target on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $254.77.

SBA Communications Trading Up 1.1 %

Shares of SBA Communications stock traded up $2.20 during trading on Monday, hitting $194.96. 845,858 shares of the stock were exchanged, compared to its average volume of 813,894. The company has a fifty day moving average price of $213.15 and a 200-day moving average price of $221.36. The stock has a market capitalization of $20.96 billion, a price-to-earnings ratio of 30.75, a price-to-earnings-growth ratio of 0.72 and a beta of 0.69. SBA Communications has a 1-year low of $183.64 and a 1-year high of $252.64.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The business had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. During the same period last year, the firm earned $3.34 EPS. SBA Communications’s quarterly revenue was down 2.2% compared to the same quarter last year. Equities research analysts forecast that SBA Communications will post 12.56 EPS for the current fiscal year.

Insider Buying and Selling at SBA Communications

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. This represents a 9.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On SBA Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of SBA Communications by 10.7% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company’s stock worth $127,000 after buying an additional 51 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after purchasing an additional 53 shares in the last quarter. Versant Capital Management Inc raised its position in SBA Communications by 17.3% in the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after purchasing an additional 53 shares during the last quarter. Sugarloaf Wealth Management LLC raised its position in SBA Communications by 11.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 558 shares of the technology company’s stock valued at $134,000 after purchasing an additional 58 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of SBA Communications by 1.4% during the third quarter. Assenagon Asset Management S.A. now owns 4,512 shares of the technology company’s stock valued at $1,086,000 after purchasing an additional 64 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Company Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.