SBA Communications (NASDAQ:SBAC) was downgraded to Hold on StockNews.com | Panda Anku

SBA Communications (NASDAQ:SBAC – Get Rating) was downgraded from a “buy” rating to a “hold” rating by equity researchers at StockNews.com in a report published on Saturday.

A number of other research analysts have also commented on SBAC. Wells Fargo & Company lowered its price target on SBA Communications to $355.00 from $390.00 and ranked the stock as an “overweight” in a research note on Tuesday, July. Cowen raised his target price on SBA Communications to $382.00 from $373.00 in a report on Tuesday, April 26. Deutsche Bank Aktiengesellschaft raised its price target for SBA Communications from $375.00 to $385.00 in a research note on Tuesday, August 2nd. Morgan Stanley has lowered its target price on shares of SBA Communications to $361.00 from $389.00 and gave the company an “overweight” rating in a report on Wednesday, July 20. Finally, the Jefferies Financial Group lowered its price target on shares of SBA Communications to $347.00 from $383.00 and issued a research note on Thursday, June, giving a “hold” rating to the stock. Three research analysts have rated the stock with a hold rating, ten with a buy rating and one with a strong buy rating. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $384.67.

SBA Communications stock performance

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NASDAQ SBAC shares opened at $344.49 on Friday. The company has a 50-day moving average of $325.99 and a 200-day moving average of $330.56. The company has a market cap of $37.15 billion, a P/E of 106.65 and a beta of 0.43. SBA Communications has a yearly low of $286.41 and a yearly high of $391.15.

SBA Communications (NASDAQ:SBAC – Get Rating) last issued its quarterly earnings data on Monday, August 1st. The tech company reported $0.64 per share for the quarter, missing the consensus estimate of $0.90 ($0.26). SBA Communications had a negative return on equity of 6.73% and a net margin of 14.45%. The company had revenue of $652.01 million for the quarter, compared to analysts’ expectations of $626.30 million. In the same quarter last year, the company posted earnings per share of $2.64. SBA Communications quarterly revenue increased 13.3% year over year. On average, equity analysts are forecasting that SBA Communications will post 11.2 EPS for the current fiscal year.

Insider buying and selling at SBA Communications

In other news from SBA Communications, EVP Mark R. Ciarfella sold 1,000 shares of SBA Communications in a transaction dated Tuesday, June 7th. The stock sold at an average price of $338.05 for a total transaction of $338,050.00. Upon completion of the sale, the Executive Vice President now directly owns 23,884 shares of the Company, valued at approximately $8,073,986.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed at this link. In related news, EVP Mark R. Ciarfella sold 8,213 shares of the company’s shares in a transaction on Monday, August 15. The shares sold at an average price of $355.50 for a total value of $2,919,721.50. Following the closing of the sale, the Executive Vice President now directly owns 23,884 shares of the Company, valued at $8,490,762. The sale was disclosed in a filing with the SEC available at this hyperlink. Also on Tuesday, June 7, EVP Mark R. Ciarfella sold 1,000 shares of the company’s shares in a transaction. The shares were sold at an average price of $338.05 for a total transaction of $338,050.00. Upon closing of the transaction, the Executive Vice President now owns 23,884 shares of the Company, valued at approximately $8,073,986.20. The disclosure for this sale can be found here. Over the past three months, insiders have sold 85,152 shares of the company’s shares for $29,512,752. Insiders own 1.80% of the company’s shares.

Hedge funds comment on SBA announcements

Institutional investors recently changed their holdings in the company. Norges Bank acquired a new position in SBA Communications stock valued at approximately $339,836,000 during the fourth quarter. FMR LLC increased its stake in SBA Communications by 37.5% during the second quarter. FMR LLC now owns 2,875,067 shares of the technology company’s stock valued at $920,165,000 after purchasing an additional 783,686 shares during the period. American Century Companies Inc. increased its position in SBA Communications by 93.3% in the first quarter. American Century Companies Inc. now owns 1,396,737 shares of the technology company’s stock valued at $480,617,000 after purchasing an additional 674,248 shares last quarter. invesco ltd added 45.1% to its position in SBA Communications in the first quarter. invesco ltd now owns 2,099,226 shares of the technology company worth $722,344,000 after purchasing an additional 652,954 shares last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in SBA Communications by 26.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,988,846 shares of the technology company’s stock valued at $956,580,000 after purchasing an additional 624,389 shares during the period. 95.41% of the shares are owned by institutional investors and hedge funds.

Corporate Profile of SBA Communications

(received rating)

SBA Communications Corporation is a provider of choice and leading owner and operator of wireless communications infrastructure in the Americas and South Africa. By building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

Selected items

Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

This instant news alert was generated by MarketBeat’s narrative science technology and financial data to provide readers with the fastest, most accurate reporting. This story was reviewed by the MarketBeat editorial team before publication. Please send questions or comments about this story to contact@marketbeat.com.

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