BidaskClub upgraded shares of SBA Communications (NASDAQ:SBAC) from a sell rating to a hold rating in a research report report published on Friday.

Several other equities research analysts have also commented on the company. ValuEngine lowered SBA Communications from a buy rating to a hold rating in a research report on Thursday, August 2nd. Morgan Stanley cut their target price on SBA Communications from $180.00 to $176.00 and set an overweight rating on the stock in a research report on Thursday, August 16th. Macquarie cut their target price on SBA Communications from $166.00 to $161.00 and set a neutral rating on the stock in a research report on Wednesday, August 29th. Zacks Investment Research raised SBA Communications from a strong sell rating to a hold rating in a research note on Wednesday, July 25th. Finally, Deutsche Bank upped their price target on SBA Communications from $170.00 to $183.00 and gave the stock a hold rating in a research note on Wednesday, August 1st. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of Buy and an average price target of $179.55.

Shares of SBA Communications stock opened at $159.58 on Friday. SBA Communications has a one year low of $140.62 and a one year high of $177.67. The company has a debt-to-equity ratio of -3.18, a quick ratio of 1.18 and a current ratio of 1.18.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, July 30th. The technology company reported ($0.50) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.68). SBA Communications had a net margin of 1.73% and a negative return on equity of 1.26%. The business had revenue of $456.30 million for the quarter, compared to the consensus estimate of $457.43 million. During the same quarter in the previous year, the company earned $1.73 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. analysts forecast that SBA Communications will post 7.07 earnings per share for the current year.

In related news, EVP Kurt L. Bagwell sold 126,605 shares of the company’s stock in a transaction that occurred on Friday, June 29th. The stock was sold at an average price of $165.06, for a total transaction of $20,897,421.30. Following the transaction, the executive vice president now directly owns 42,089 shares of the company’s stock, valued at approximately $6,947,210.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jeffrey Stoops sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $160.05, for a total value of $6,402,000.00. Following the transaction, the chief executive officer now directly owns 252,180 shares in the company, valued at $40,361,409. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 289,945 shares of company stock worth $47,080,663. 2.70% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of SBAC. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of SBA Communications by 3.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 343,307 shares of the technology company’s stock worth $56,687,000 after purchasing an additional 12,899 shares during the last quarter. IFM Investors Pty Ltd raised its stake in shares of SBA Communications by 39.7% in the second quarter. IFM Investors Pty Ltd now owns 5,501 shares of the technology company’s stock worth $908,000 after purchasing an additional 1,562 shares during the last quarter. Employees Retirement System of Texas raised its stake in shares of SBA Communications by 31.3% in the second quarter. Employees Retirement System of Texas now owns 21,000 shares of the technology company’s stock worth $3,468,000 after purchasing an additional 5,000 shares during the last quarter. Riverhead Capital Management LLC raised its stake in shares of SBA Communications by 9.3% in the second quarter. Riverhead Capital Management LLC now owns 9,815 shares of the technology company’s stock worth $1,621,000 after purchasing an additional 836 shares during the last quarter. Finally, Rampart Investment Management Company LLC raised its stake in shares of SBA Communications by 167.9% in the second quarter. Rampart Investment Management Company LLC now owns 13,970 shares of the technology company’s stock worth $2,307,000 after purchasing an additional 8,756 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

About SBA Communications

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