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

SBA Communications (NASDAQ:SBAC) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

SBAC has been the subject of several other research reports. Barclays decreased their target price on SBA Communications from $257.00 to $254.00 and set an “overweight” rating for the company in a research report on Monday. TD Cowen increased their price objective on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. boosted their target price on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Morgan Stanley increased their price target on shares of SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Finally, Raymond James boosted their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and an average target price of $254.77.

SBA Communications Stock Up 0.0 %

Shares of SBA Communications stock opened at $195.02 on Monday. The company has a market cap of $20.97 billion, a PE ratio of 30.76, a P/E/G ratio of 0.72 and a beta of 0.69. The business has a 50 day moving average of $212.49 and a 200 day moving average of $221.36. SBA Communications has a 52 week low of $183.64 and a 52 week high of $252.64.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate 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 company had revenue of $667.60 million during the quarter, compared to analysts’ expectations of $669.29 million. During the same period in the prior year, the business posted $3.34 earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, research analysts anticipate that SBA Communications will post 12.56 earnings per share for the current year.

Insider Activity at SBA Communications

In other news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value 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. The trade was a 9.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Donald Day sold 2,321 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SBA Communications

A number of large investors have recently added to or reduced their stakes in SBAC. Ashton Thomas Securities LLC purchased a new position in shares of SBA Communications in the 3rd quarter worth $26,000. Capital Performance Advisors LLP bought a new position in SBA Communications in the third quarter valued at about $35,000. Friedenthal Financial bought a new position in SBA Communications in the third quarter valued at about $50,000. Farther Finance Advisors LLC boosted its position in SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after purchasing an additional 53 shares during the last quarter. Finally, Eastern Bank bought a new stake in shares of SBA Communications during the 3rd quarter valued at about $58,000. Institutional investors own 97.35% of the company’s stock.

About SBA Communications

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.