BidaskClub cut shares of SBA Communications (NASDAQ:SBAC) from a sell rating to a strong sell rating in a report issued on Tuesday morning.
Other equities research analysts also recently issued reports about the company. Cowen restated a buy rating and set a $170.00 price target (up from $155.00) on shares of SBA Communications in a research note on Tuesday, December 5th. Morgan Stanley boosted their price target on SBA Communications from $169.00 to $190.00 and gave the company an overweight rating in a research note on Tuesday, November 14th. KeyCorp restated an overweight rating and set a $192.00 price target (up from $179.00) on shares of SBA Communications in a research note on Monday, November 27th. Zacks Investment Research raised SBA Communications from a sell rating to a hold rating in a research report on Monday, October 16th. Finally, UBS Group began coverage on SBA Communications in a research report on Wednesday, October 18th. They set a buy rating and a $176.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. SBA Communications presently has a consensus rating of Buy and a consensus target price of $162.93.
SBA Communications (NASDAQ SBAC) traded up $3.91 during trading on Tuesday, hitting $159.85. The company’s stock had a trading volume of 1,412,800 shares, compared to its average volume of 926,450. The company has a market cap of $18,329.50, a P/E ratio of 190.30 and a beta of 0.77. SBA Communications has a 1-year low of $102.29 and a 1-year high of $173.97. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of -3.63.
In other news, Director George R. Krouse, Jr. sold 1,999 shares of SBA Communications stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $169.51, for a total transaction of $338,850.49. Following the transaction, the director now directly owns 11,999 shares of the company’s stock, valued at approximately $2,033,950.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.40% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of SBAC. Prudential Financial Inc. lifted its holdings in SBA Communications by 319.0% in the 2nd quarter. Prudential Financial Inc. now owns 33,600 shares of the technology company’s stock worth $4,533,000 after purchasing an additional 25,580 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in SBA Communications in the 2nd quarter worth approximately $220,000. Eaton Vance Management lifted its holdings in SBA Communications by 20.6% in the 2nd quarter. Eaton Vance Management now owns 17,453 shares of the technology company’s stock worth $2,354,000 after purchasing an additional 2,984 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in SBA Communications by 99.2% in the 2nd quarter. Alliancebernstein L.P. now owns 214,991 shares of the technology company’s stock worth $29,002,000 after purchasing an additional 107,074 shares in the last quarter. Finally, Teachers Advisors LLC lifted its holdings in SBA Communications by 71.4% in the 2nd quarter. Teachers Advisors LLC now owns 258,540 shares of the technology company’s stock worth $34,877,000 after purchasing an additional 107,706 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION NOTICE: “SBA Communications (SBAC) Downgraded to Strong Sell at BidaskClub” was first reported by Week Herald and is the sole property of of Week Herald. If you are viewing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark law. The legal version of this piece of content can be viewed at https://weekherald.com/2018/01/17/sba-communications-sbac-downgraded-to-strong-sell-at-bidaskclub.html.
About SBA Communications
SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.
Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.